Former JPMorgan Exec Blythe Masters Steps Down as CEO of Digital Asset

[Ozark]

Former JPMorgan executive Blythe Masters stepped down from her CEO role at blockchain startup Digital Asset.

Blockchain startup Digital Asset announced on Tuesday that its CEO, Blythe Masters, who is also among the most influential women in the crypto world, had requested to leave her position for personal reasons. Masters is a well-known former JPMorgan executive who left as head of Global Commodities to run Digital Asset, which she did for almost four years. During this period, the blockchain startup secured valuable deals with Australian Securities Exchange (ASX) and SIX Swiss Exchange.

Former Amazon, Google, and Uber engineering executive AG Gangadhar, who joined the startup’s Board of Directors this April, will act as the new CEO until a permanent replacement is appointed.

Masters admitted that she would keep involved with Digital Asset as a board member, shareholder, and strategic advisor. She commented:

“Digital Asset has evolved from an ambitious idea to a truly global software engineering firm. We are fortunate to have a deep bench of accomplished executives on the management team and Board, including AG, who have the requisite experience to take the company to the next level. Having come to know and trust AG as an advisor and Board member, I am convinced that he brings what’s needed to guide the company through its next phase.”

The ASX, which plans to replace its Clearing House Electronic Subregister System (CHESS) with the blockchain solution provided by Digital Asset, expressed its appreciation for Masters’s contribution. ASX holds a 7% stake in Digital Asset. Peter Hiom, ASX’s deputy chief executive, commented:

“ASX remains absolutely committed to DLT and our partnership with Digital Asset (DA) - our Chess replacement programme is on track and moving ahead at pace.”

As of 2017, Digital Asset had raised a total of $100 million from 15 investors, including ASX, JPMorgan, IBM, Goldman Sachs, BNP Paribas, and CITI Bank.

SOURCE