After the mainstream introduction & adoption of cryptocurrencies, hundreds of new job posts exploded in the market even though some of the positions are comparatively paid as much by the traditional sector for the same post.
In a recent development, BitGo, a leading custody and other crypto-based service provider, has announced the onboarding of Ben Reynolds, for the position of managing director for the development and expansion of its USD Standard stablecoins.
The X post by BitGo dated November 01, 2024 quotes “ We’re thrilled to announce that Ben Reynolds has joined BitGo as Managing Director and Head of USD Standard. With over 25 years of experience in fintech, software, banking, and asset management, Ben joins us from Silvergate Bank, where he served as President.”
As per the LinkedIn profile of Ben, has more than 24+ years of experience in the Fintech and Banking sector, which will help BitGo to expand its services worldwide. Earlier he worked with leading names such as Silvergate Bank for a term of over 7 years, Standard Custody and Trust Company for 1 year and 4 months with several other names in the list.
Ben’s Expertise to Boost the Adoption & Popularity of BitGo Worldwide!
Ben has worked for over seven years with Silvergate Bank among the leading banks in the cryptocurrency market, but due to its unprecedented scenario, it faced huge losses and other regulatory stances.
In the initial phase of his joining at Silvergate Bank, he joined as SVP of business development, but his dedication and efforts have backed him to become the Chief Strategy Officer where he worked for three years from November 2022 to March 2023 he acted as President of Silvergate Bank.
Is BitGo Expanding its Worldwide Presence?
According to the data available from Crunchbase, BitGo has acquired Brassica, HeightZero, Lumina, Harbor, and Hedge.
Additionally, the company has secured funding from companies like Red Point, Craft Capital Goldman Sachs, and many more. Per the rough estimates, BitGo has over $1 billion in market capitalization, however, the exact figures aren’t available.
Earlier in August 2024, BitGo secured the Major Payment Institution License (MPI) from the Monetary Authority of Singapore (MAS). Previously, BitGo served clients in Singapore and across the Asia-Pacific region, but its offerings were limited to custody services via its U.S.-based South Dakota Trust and hot wallet options.
This new license enables BitGo to expand its services locally in Singapore, enhancing its presence in the Asia-Pacific digital asset market and addressing the region’s growing demand for regulated crypto services.
Singapore is among the leading regions with a favorable regulatory framework for cryptocurrencies and related services, often recognized as one of the world’s fastest-evolving crypto hubs.
