The corporation behind USDC has added a new face that could help additional institutional espousal. Centre Consortium, the company behind USD Coin, has hired former State Street and JPMorgan Chase executive David Puth as its new CEO.
Centre made the announcement recently through a Medium post that praised Puth for his headship credentials. Puth will allegedly aid the Centre expand its global partnerships across the fintech, cryptocurrency and conventional financial services businesses.
Puth mentioned that he is thrilled to be joining Centre at this serious time in the business. He says,
“The growth of USDC over the course of 2020 is indicative of what I expect will be the path for Centre business activities and that of future Centre-supported stablecoins.”
Before joining Centre, Puth served in more than a few leadership capacities at R3, CLS Group, State Street and JPMorgan.
Puth is one of many Wall Street veterans trickling into digital asset management as blockchain adoption continues to spread beyond the early adopter phase. A similar trend is occurring on the investor side, with major institutions expressing interest in Bitcoin and other digital assets.
At the time of reporting, the total market capitalization of all stablecoins was around twenty-five billion USD.
Apart from stablecoins, Centre mentioned that virtual currencies and blockchains are indicating the most noteworthy alteration in the international monetary system since the development of the Bretton Woods system more than seventy five years ago.
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