The Centre Consortium, the Coinbase- and Circle-founded challenge that oversees the USDC stablecoin, has employed Wall Road veteran David Puth as its first CEO.
Puth has held senior government roles at JPMorgan and State Road, and most just lately was the CEO of CLS, the overseas change settlement supplier made up of over 70 huge banks and monetary establishments.
Puth additionally has direct expertise of blockchain know-how in a regulated monetary atmosphere, having been appointed as a strategic advisor to enterprise blockchain builders R3, again in January 2019.
“I couldn’t be extra enthused about becoming a member of Centre at this crucial time within the business,” Puth mentioned in a press release. “The expansion of USDC over the course of 2020 is indicative of what I count on would be the path for Centre enterprise actions and that of future Centre-supported stablecoins.”
USDC is the second-largest stablecoin by market cap at $2.98 billion. Having expanded to further blockchains in current months, some checklist USDC’s market cap even increased.
Centre was co-founded in 2018 by crypto change Coinbase and digital asset agency Circle, the latter having navigated a exceptional sequence of pivots.
“As Centre scales so as to add new members, currencies and stakeholders, we’re blessed to have an business chief who has the understanding and expertise to assist construct this new worldwide financial system,” Circle CEO Jeremy Allaire mentioned in a press release.
