New York-based fintech company trueDigital Holdings has appointed a former Bridgewater Associates chief executive Thomas Kim as its new CEO.
A spokesperson for trueDigital said Kim would lead the company’s expansion into Australia, with plans to target local banking partners to support real-time cross-border payments from the US.
trueDigital was the first company to have its physically deliverable bitcoin swap approved by the US Commodity Futures Trading Commission (CFTC), and partnered with Signature Bank to build its blockchain payments system.
Kim said the company was building a reputation as a fintech leader following the recent successes of Signature Bank’s CFTC-approved Bitcoin swaps.
“Transforming financial market infrastructure is an ambitious goal, yet the progress to date shows the potential of trueDigital’s technologies to modernise markets and bring digital assets forward,” said Kim.
JPMorgan recently made headlines for its JPM Coin, however, Signature said its Signet system is already processing millions of dollars a day.
“The team, the thinking and the technology at trueDigital are all attuned for significant growth, and I look forward to leading the way,” said Kim.
trueDigital has also created margined deliverable swap contracts on bitcoin as well as institutional OTC-based digital asset reference rates.
Bridgewater Associates had nearly US$125 billion assets under management in 2018.