New York-based crypto lending startup BlockFi has hired two traditional finance executives in a move to expand both its institutional and consumer-oriented products. The company, which announced a $ 30 million funding round in February on Tuesday, revealed to Wittney Rachlin as its new Chief Growth Officer, and David Olsson as its Global Managing Director.
In the announcement about its $ 30 million financing, the company said it had a clientele of approximately 50 institutions. And he added that he plans to expand that base through an Asian expansion. Olsson, who joins Credit Suisse, will oversee the growth of the company's institutional services. Including business development, risk management and sales strategy in the European and Asian markets, BlockFi said.
- Multifunctional hardware wallet for easy cryptographic security, storage and use
- Touch screen for secure access to digital assets
- Offline security protects against hackers and malware
- Open source technology for financial privacy and stability
- Advanced security features include PIN and passphrase
BlockFi with Europe and Asia in its sights
It is worth noting that Asia has been essential for the development of the crypto market. Cedric Jeanson, CEO of Singapore crypto hedge fund BitSpread, said once family offices and asset managers on the mainland are a huge driver of Bitcoin liquidity. Having led an EMEA-focused team in his previous roles, Olsson joins BlockFi with knowledge of business development in Asia.
One of BlockFi's goals is to create consumer products that offer the familiar product experience. financial traditional. The company believes that it is one of the ways to accelerate the adoption of Bitcoin. As part of that, BlockFI is currently developing a Bitcoin reward card that will launch in the second half of the year. Cardholders will earn Bitcoin for qualified dollar-denominated expenses.
Having led card operations teams at American Express for over 11 years. Rachlin joins BlockFi with an understanding of the inner workings of the traditional credit card system. However, BlockFi is not the only company working on a Bitcoin reward card. In early April, crypto startup Fold announced that it had partnered with Visa. To issue a Bitcoin reward card, which is similar in description to BlockFi's.