By Adeline Gibbs (Italy)
BlockFi announced today that they have hired two former executives of the traditional finance world.
According to the announcement, former vice president of American Express, Wittney Rachlin, will be its new Chief Growth Officer while former director of Credit Suisse, David Olsson, will be its new Global Managing Director of European and Asian markets. Wittney Rachlin is having 20 years of financial experience in working at various famous companies as a leading role. She worked for American Express for 14 years where she uplifted the company in terms of commercial and consumer growth. Besides American Express, she also served for Prudential Financial as an executive. Rachlin will also try to make it possible for BlockFi to roll out Bitcoin (BTC) rewards credit card at the end of 2020.
Rachlin said:
“After I made my first Bitcoin purchase I was hooked on crypto. You don’t have to be a tech or finance expert to invest in digital currencies, and BlockFi is doing something truly remarkable in the financial services space with an approach to digital assets you don’t normally see in the startup world today.”
Olsson also has an experience of years in providing institutional services at various financial platforms, including Credit Suisse and Bank of America Merrill Lynch. As a Global Managing Director, Olsson will handle institutional services at BlockFi along with sales strategy and risk management in Asian and European markets.
Olsson commented:
“In ten years, blockchain technology will be de facto across industries, and financial markets will be no exception with securities and digital assets on the chain. BlockFi has operated with zero losses since its inception and is well poised to lead the market for institutional clients across the globe.”
Crypto Space is Maturing
The traditional markets are going under bearish pressure amid Coronavirus fears, and Bitcoin is declared as the most profitable asset of 2020 so far. The coming financial crisis will uplift the digital economy, and the adoption of blockchain technology would increase double fold. “The crypto financial services space is maturing and we can see a clear turning point today where traditional finance is being outpaced by digital,” said Zac Prince, CEO and Co-Founder, BlockFi.
The company also gives director posts to three major figures: Mitch Port from Kraken will serve as Director of Strategy & Analytics, Rob Margolis from LedgerX will serve as Director Institutional Services, and former Petal’s employee will work as Director of Business Operations.
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