According to anonymous sources quoted by Bloomberg , business banker Brian Wirtz, a Bitcoin and blockchain supporter, has decided to resign from Credit Suisse after five years of loyal service.
The reason ? It would be putting up a company that will accompany young shoots wishing to conduct Initial Offerings corner .
From Credit Suisse to Cryptocurrencies
Credit Suisse logoWhile Brian Wirtz has reportedly resigned from Credit Suisse, his Linkedin profile now indicates that he specializes in " blockchain and digital asset investment advice ". He had tried for some time to convince his employer to launch projects around cryptocurrencies.
Mr. Wirtz now aspires to set up a company specializing in Initial Coin Offerings - these fundraisers that allow startups to reap funds in cryptocurrencies.
Credit Suisse is not the only bank in Switzerland to have expressed distrust of cryptocurrencies. The financial services company UBS has also distanced himself from this ecosystem, including a requirement that employees require authorization before trading digital assets for their own account.
This is an initiative similar to that taken by the Finnish banking group Nordea Bank , which would have even discouraged its employees from launching research on blockchain technology.
Several bankers have decided to turn to the blockchain ecosystem
Mr. Wirtz is far from being the only employee to leave the traditional banking system to embark on the development of projects related to blockchain technology.
RevolutMarco Abel , former head of the digital sector for Credit Suisse, recently launched an Ethereum investment platform called Tend . It aims to offer Internet users the opportunity to invest in collectibles (vintage cars, works of art, ...), and to be able to accurately track their provenance.
Here's what he said when launching his startup:
"This is essentially about democratizing access to very valuable assets, invaluable assets, and making them available to a wider global audience. I think this is a really remarkable goal. "
Another former Credit Suisse Nikolay Storonsky , has in turn launched Revolut , a competitor to traditional banks. He raised funds last year to be able to soon offer a crypto-currency trading service .
We can also mention the initiative of Blythe Masters, a former JP Morgan Chase. She co-founded Digital Asset Holdings, which develops blockchain technology solutions for financial institutions.
These entrepreneurs, who used to work for the "traditional" banking sector, are now turning to blockchain technology - and they could come in and get in the way of their former employers.
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