New York-based Digital Asset Holdings, a startup that began as a bitcoin-centric company and is now deemed a blockchain-based firm is opening a new office in London to expand its presence into the European market.
Digital Asset, led by former JPMorgan executive Blythe Masters as the company’s CEO announced in a media release that the company will open an office in London to support its clients and expand its presence in the UK and European markets.
Masters is a prominent figure on Wall Street and is credited as one of the creators of the credit derivatives market. After 27 years with JPMorgan, Masters entered the Fintech space to join the now blockchain-based startup Digital Asset as CEO in March 2015. In late 2015, Masters reportedly turned down the role as the head of Barclays’ Investment Banking division to stay as CEO for Digital Asset Holdings.
In statements, Masters spoke about London’s calling as a Fintech destination in stating:
London is a global center for finance and a leading hub for innovation. Opening an office in the UK is a natural extension of our commitment to wholesales financial markets around the world.
In using distributed ledgers including Bitcoin’s blockchain, Digital Asset is developing software that will come in use for quick settlement of trades for financial and digital assets.
In addition to the news of Digital Assets’ foray into Europe, the company revealed the appointment of two new executives to the startup.
The company added former JPMorgan executive Justin Amos who spent 14 years at the bank and left as the global head of client connectivity services. Prior to his appointment, Amos was a managing director at NICE Actimize, deemed as the largest financial crime, risk and compliance software platform. Amos will see his new job in heading the London office.
Digital Asset also announced the hiring of Edward Newman, a former executive at Goldman Sachs’ technology infrastructure organization. Newman was the deputy chief security officer and a senior software developer. Newman also spent ten years at Merrill Lynch prior to his tenure at Goldman Sachs.
“I am delighted to welcome Justin and Ed to our rapidly growing team, especially as technology risk management continues to be a top propriety for the financial services industry,” said CEO Masters about the two new additions to the company.
The latest appointments and the expansion come at a time after a recent New York Times report that claimed Digital Asset was ‘struggling’ to close its Series A round of funding by investors.
Meanwhile, the move to set up a London office is a further nod to claims by prominent figures in the UK who see it as the global destination for Fintech.
Featured image from Shutterstock.
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