Circle welcomes former Goldman Sachs executive Craig Broderick to board of directors

TL;DR Breakdown

  • Circle Internet Financial has appointed former Goldman Sachs executive Craig Broderick to its board of directors.
  • Broderick’s extensive experience at Goldman Sachs, including serving as chief risk officer, brings valuable expertise to Circle’s risk management efforts.
  • Robust risk management practices are crucial for stablecoin issuance to ensure price stability and regulatory compliance.

Description

In a strategic move to enhance risk management and strengthen regulatory compliance, Circle Internet Financial, the issuer of the USDC stablecoin, has announced the appointment of Craig Broderick, a former executive at Goldman Sachs, to its board of directors. Broderick, renowned for his distinguished career spanning over three decades at Goldman Sachs, notably serving as … Read more

In a strategic move to enhance risk management and strengthen regulatory compliance, Circle Internet Financial, the issuer of the USDC stablecoin, has announced the appointment of Craig Broderick, a former executive at Goldman Sachs, to its board of directors. Broderick, renowned for his distinguished career spanning over three decades at Goldman Sachs, notably serving as chief risk officer, brings invaluable expertise to Circle’s risk management endeavors.

Having held pivotal roles within Goldman Sachs, including co-chairing the “Firmwide Risk Committee along with other control-related committees,” Broderick possesses an extensive background in handling various risks, such as credit, market, liquidity, operational, model, counterparty, and insurance risks.

The significance of robust risk management practices cannot be overstated regarding stablecoin issuance, as they contribute to price stability and regulatory compliance. Circle’s mission to establish USDC as the most secure, trustworthy, and transparent digital currency online aligns with its commitment to implementing a rigorous risk management system.

According to Jeremy Allaire, co-founder, and CEO of Circle, Broderick’s appointment is a strategic move aimed at leveraging his profound knowledge and experience as a long-time risk management leader in one of the world’s most successful financial institutions. Broderick’s insights will significantly bolster Circle’s regulatory-first business approach.

This announcement follows Circle’s recent appointment of Heath Tarbert, former chairman of the Commodity Futures Trading Commission (CFTC), as chief legal officer and director of corporate affairs. Circle’s strategic expansions into the Asian market have been gaining momentum, evidenced by their acquisition of the Major Payment Institution licence necessary to offer digital payment token services in Singapore.

As Circle prepares to cater to the rising demand for digital dollars in emerging markets, particularly in Asia, Allaire expressed optimism, stating, “Asia is the center of that.” The company’s strategic moves in assembling a highly experienced team, including industry veterans like Broderick and Tarbert, reflect their commitment to capitalizing on the immense growth potential in the region.

Circle’s proactive approach to risk management and its dedication to regulatory compliance is set to fortify its position as a leader in the digital currency space. By incorporating the expertise of individuals like Broderick and Tarbert, Circle aims to drive innovation and foster greater trust and transparency in the emerging landscape of digital currencies.

Moreover, with its expansion into the Asian market on the horizon, Circle is poised to tap into the vast opportunities presented by the region’s evolving financial landscape. As they continue to position themselves at the forefront of the industry, Circle’s focus on risk management and regulatory compliance remains unwavering, serving as the foundation for their mission to revolutionize digital currency adoption worldwide.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

文章来源于互联网:Circle welcomes former Goldman Sachs executive Craig Broderick to board of directors

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年7月3日 13:00
Next 2023年7月3日 15:08

Related articles

  • U.S. House Committee advances legislation to halt CBDCs

    TL;DR Breakdown The U.S. House Financial Services Committee is advancing two bills to prevent the Federal Reserve from issuing a Central Bank Digital Currency (CBDC) without Congressional approval. The topic has become a divisive issue, even entering presidential campaigns, with candidates like Robert F. Kennedy Jr. and Ron DeSantis opposing a CBDC due to financial privacy concerns. Despite the legislative push against CBDCs, Rep. Stephen Lynch (D-Mass.) reintroduced a bill advocating for a digital dollar pilot program, highlighting the ongoing debate and division among lawmakers. Description The United States House Financial Services Committee, chaired by Patrick McHenry, is progressing with two bills aimed at preventing the Federal Reserve from issuing a Central Bank Digital Currency (CBDC) without Congressional approval.   The first bill, known as the Digital Dollar Pilot Prevention Act or H.R. 3712, was introduced by Representative Alex Mooney (R-W.V) in … Read more The United States House Financial Services Committee, chaired by Patrick McHenry, is progressing with two bills aimed at preventing the Federal Reserve from issuing a Central Bank Digital Currency (CBDC) without Congressional approval.   #NEW: Chairman @PatrickMcHenry…

    Article 2023年9月18日
  • Whale deposits $43 million worth of ETH into the Aave platform

    TL;DR Breakdown The crypto market starts to recover as a whale investor deposits 25,000 ETH and takes out a large loan of 35 million in USDT. Crypto whales remain some of the most key players in the DeFi industry. Binance tweeted on June 12 that it would exchange 750 million tether-tron token pairings for tether-ether to keep the stablecoin’s liquidity. A whale made a huge deposit of 25,000 ETH (about $43 million) into the Aave platform and took out a large loan of 35 million USDT, a significant milestone for the crypto market. The Binance exchange’s growing significance within the crypto ecosystem is further highlighted by speculations that the whale has put 35 million USDT into it. ETH and crypto whales’ optimism boosts Bitcoin, Cardano, and RenQ Finance According to media reports on June 12, there have been claims that a whale deposited a substantial sum into the Aave platform, which is equal to 25,000 ETH or almost $43 million. Additionally, a large loan of 35 million USDT was taken from Aave within the same time frame. According to the…

    Article 2023年6月15日
  • China-US relations show progress, notes Xi Jinping

    TL;DR Breakdown President Xi Jinping signals a potential thaw in China-US relations, with both sides making progress in stabilizing their relationship. This positive shift follows a meeting between Xi and Antony Blinken, the first US Secretary of State to visit China since 2018. While tensions persist, the dialogue represents an important step towards possible face-to-face meetings between top US and Chinese leaders. Description In the wake of a landmark encounter, Chinese President Xi Jinping indicates a promising thaw in the ice-cold diplomatic relations between China and the United States. The President’s comments underscore the strongest sign yet that Beijing might entertain the possibility of a ceasefire in its ongoing dispute with Washington. Landmark encounter signals progress The president’s … Read more In the wake of a landmark encounter, Chinese President Xi Jinping indicates a promising thaw in the ice-cold diplomatic relations between China and the United States. The President’s comments underscore the strongest sign yet that Beijing might entertain the possibility of a ceasefire in its ongoing dispute with Washington. Landmark encounter signals progress The president’s declaration follows a long-overdue…

    Article 2023年6月22日
  • PayPal’s PYUSD stablecoin debuts on Venmo, expands crypto reach

    TL;DR Breakdown Venmo’s users can now send PYUSD to any compatible external wallet. Users should be aware that using blockchain networks for these transactions may involve additional costs. The New York State Department of Financial Services has approved PYUSD, adding a layer of credibility to the stablecoin. Description In a significant move, PayPal’s stablecoin, PYUSD, debuted on Venmo. Initially, a select group of users will have access to this feature. However, it will be available to the broader public in the coming weeks. This development allows Venmo users to purchase PYUSD using their balance. Moreover, they can transfer it to anyone with a … Read more In a significant move, PayPal’s stablecoin, PYUSD, debuted on Venmo. Initially, a select group of users will have access to this feature. However, it will be available to the broader public in the coming weeks. This development allows Venmo users to purchase PYUSD using their balance. Moreover, they can transfer it to anyone with a Venmo, PayPal, or a compatible external wallet. Additionally, Venmo users can now send funds to anyone possessing an external…

    Article 2023年9月21日
  • Cardano price analysis: ADA plummets to $0.3655 as bearish pressure intensifies

    TL;DR Breakdown Cardano price analysis shows a bearish market sentiment. Resistance level for ADA is present at the $0.3723 mark. Support for ADA is seen at the $0.3645 level. Today’s Cardano price analysis shows a bearish market sentiment. The price of ADA fell to $0.3655, indicating a decline continuation in the crypto asset’s value and increasing bearish pressure from the market. ADA touched the $0.3798 mark on 18th May and since then it has been on a downward spiral. The resistance level for ADA is present at the $0.3723 mark. The buying pressure around this level has been very weak which has resulted in the price struggling to breach it. The support for ADA is seen at the $0.3645 level, but any further decline in prices could see a breach of this mark as well as a further drop in prices. Cardano price analysis daily chart: ADA face strong resistance at the $0.3723 mark The 1-day Cardano price analysis chart shows that the bears are dominating the market and prices have been consistently declining for the past few days. ADA…

    Article 2023年5月21日
TOP