Blockchain
Fireblocks Appoints Former Head of Fintech from Bank of England As New Director of CBDC and Market Infrastructure
Fireblocks (www.fireblocks.com), the industry leader and award-winning digital asset and crypto technology provider, announced today it has appointed the former Head of Fintech at the Bank of England, Varun Paul, as its new Central Banking Digital Currency (CBDC) and Market Infrastructure Director. In this new role, Paul will serve on Fireblocks’ Corporate Strategy team and report to Fireblocks’ Vice President and Head of Corporate Strategy, Adam Levine.
Paul is a graduate of Cambridge University who earned a Master’s degree in Economics. After college, Paul served in multiple roles at the Bank of England for 14 years, ultimately spearheading its fintech hub and future of finance initiatives.
“Varun brings a wealth of insight and experience from his tenure at the Bank of England that will be invaluable to our team as we engage and partner with leading central banks around the world,” said Levine. “From CBDC developments to the tokenization of traditional financial assets, bridging digital assets and blockchain technologies to traditional institutions at scale will require strong working relationships with the central bank community. We are excited about Varun’s ability to help support the digital asset strategy of central banks and market infrastructures.”
As Fireblocks’ first Director of CBDC and Market Infrastructure, Paul will lead the company’s engagement with central banks and market infrastructures as they begin adopting digital asset and tokenization technologies. In this capacity, Paul will play a key role in educating key decision-makers on secure and scalable solutions to support digital assets and exploring the potential benefits of participating in permissioned DeFi and the secondary economy it powers.
This announcement comes on the heels of a wave of countries that have announced plans to adopt central bank digital currencies. In February, United States President, Joe Biden, signed an executive order that would direct federal agencies to look into the possible infrastructure needed to create a US CBDC due to the $3 trillion dollar in digital asset market cap as of November 2021. According to the IMF, around 100 countries are exploring CBDC projects or initiatives, including the UK, US, India, Singapore, and Switzerland.
“Fireblocks is the clear leader when it comes to providing secure, scalable technologies for digital asset and crypto-forward businesses,” said Varun Paul, Fireblocks’ new Director of CBDC and Market Infrastructure. “Financial innovation in CBDC, DeFi and tokenization is rapidly accelerating, and my new role at Fireblocks allows me the privilege and opportunity to work alongside some of the most forward-thinking organizations in the world as they prepare for one of the sector’s greatest transformations.”
Since launching in 2019, Fireblocks has onboarded more than 1,300 institutional customers who use its platform to secure more than $210 billion in monthly digital asset transfers. To date, Fireblocks’ technology has garnered industry recognition with awards that include Hedgeweek Europe’s Best Custodian Innovation and Best Cyber Security Provider; Microsoft Security Trailblazer Award; and The Hottest Blockchain Startup in 2020 from the Europas.
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Kyrrex Expands into the U.S. Market, Offering Crypto Solutions with Low Fees
Kyrrex, a crypto ecosystem, is thrilled to announce its official launch in the United States. With operations now live in ten states, Kyrrex is poised to offer American users a platform for cryptocurrency trading, payments, and wallet management.
Kyrrex’s U.S. platform enables users to buy and trade cryptocurrencies with competitive commissions of just 0.2%, making crypto transactions efficient and cost-effective. Available in California, Colorado, Hawaii, Utah, Indiana, Wisconsin, Missouri, Montana, Massachusetts, and Wyoming, Kyrrex is rapidly expanding to other regions across the U.S.
“We’re incredibly excited to bring Kyrrex to the U.S. market,” said Mike Romanenko, CVO & Co-Founder at Kyrrex. “Our platform is designed to offer American users a safe and reliable way to manage all their crypto needs, and we look forward to growing our presence across the country.”
Why the U.S. Market Matters for European Crypto Companies
The U.S. represents one of the largest and most dynamic crypto markets in the world. As of 2024, the U.S. accounts for over 25% of global cryptocurrency activity, driven by increasing institutional investment and mainstream adoption. The approval of Bitcoin exchange-traded Funds (ETFs) has boosted institutional interest significantly, signaling a shift toward greater acceptance of cryptocurrencies as full-fledged assets. By 2025, the U.S. crypto market is expected to see substantial growth, with estimates projecting a compound annual growth rate (CAGR) of over 12% in the sector, supported by both retail and institutional demand. For companies like Kyrrex, entering the U.S. market is a strategic move to expand user reach and tap into this rapidly evolving landscape, which offers vast potential for innovation and growth.
Kyrrex’s expansion into the U.S. is a testament to the company’s commitment to building a global crypto ecosystem that connects crypto-related services in one platform. By providing American users with access to a platform that offers crypto trading, wallet services, and low-fee purchases via debit and credit cards, Kyrrex is positioned to be a responsible player in the U.S. market. After six years of building a comprehensive crypto ecosystem, the company continues to lead with regulatory compliance. Today, Kyrrex’s achievements include:
- Saint Vincent and the Grenadines: Kyrrex Limited is registered and recognized by the SVG Financial Services Authority, providing a foundation of trust and security;
- Malta: REX, part of the Kyrrex ecosystem, obtained a prestigious VFA Class 4 license in 2021, allowing the platform to offer Virtual Financial Assets (VFA) services while maintaining the highest European regulatory standards;
- United States: Kyrrex is registered with FinCEN as a Money Services Business (MSB) and is available in 10 U.S. states, including California, Massachusetts, and Utah.
Kyrrex ecosystem is also preparing for future regulatory changes by applying for a Class 3 MiCA (Markets in Crypto-Assets) license and an EMI (Electronic Money Institution) license in Malta and the U.K. Also, the company applied for an Investments Services license, which will enable brokerage services from and within Malta. This strategic approach ensures that Kyrrex will continue to offer secure and compliant services across multiple jurisdictions.
“Kyrrex’s entry into the U.S. comes at a critical time as regulations around cryptocurrency continue to evolve. The company’s commitment to regulatory compliance demonstrated through adherence to U.S. state law, positions Kyrrex as a responsible and reliable platform for American users. As part of Kyrrex’s mission, we will continue working closely with U.S. regulators to ensure that our platform remains compliant with the highest regulatory standards.”, stated Mr. Romanenko from Kyrrex.
With plans to expand into more states and enhance its service offerings, Kyrrex is dedicated to reshaping the operations of digital assets by providing users with secure, efficient, and regulated crypto solutions.
The post Kyrrex Expands into the U.S. Market, Offering Crypto Solutions with Low Fees appeared first on HIPTHER Alerts.
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