The Centre Consortium, the Coinbase- and Circle-founded venture that oversees the USDC stablecoin, has employed Wall Avenue veteran David Puth as its first CEO.
Puth has held senior govt roles at JPMorgan and State Avenue, and most just lately was the CEO of CLS, the international alternate settlement supplier made up of over 70 massive banks and monetary establishments.
Puth additionally has direct expertise of blockchain expertise in a regulated monetary atmosphere, having been appointed as a strategic adviser to enterprise blockchain builders R3, again in January 2019.
“I couldn’t be extra enthused about becoming a member of Centre at this essential time within the trade,” Puth mentioned in an announcement. “The expansion of USDC over the course of 2020 is indicative of what I anticipate 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 latest months, some listing USDC’s market cap even greater.
Centre was co-founded in 2018 by crypto alternate 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 trade chief who has the understanding and expertise to assist construct this new worldwide financial system,” Circle CEO Jeremy Allaire mentioned in an announcement.