Center, the USD Coin (USDC) consortium created by Circle and Coinbase, has assembled a team of new leaders to help drive its expansion abroad. The new team of six new executives, put together by David Puth, Center CEO, will seek to support new partners and add new alliances to keep the company growing in the future. One of the goals of the new ensemble will be to create an interoperable global network of stablecoins.
Center Consortium expands team to build stablecoin network
Center, the consortium behind the USD Coin Issuance (USDC), announced that it has successfully recruited six new members to expand its reach and partner overseas to create a global, interoperable stablecoin network. David Puth, CEO of Center, put this team together in just nine months and expects to connect with new partners and organize a new level of standards. Put said:
We put this team together to ensure we have the right balance of talent that will enable us to achieve significant growth while maintaining the highest standards of integrity, compliance and trust.
The newly hired executives are John Shipman, Chief Commercial Officer; Mark duBose, Chief Risk and Compliance Officer; Beth Zolkind, CFO; Chad Richman, Senior Counsel; Jessica Gardner, operations manager; and Kevin Mills, graduate project manager. All of them have extensive experience and have worked in companies such as PwC, Circle, Fenwick & West and SOM.
Launchpad for expansion
The new team is seen as the launch pad for the company’s expansion. Puth announced that Center wants to promote the idea of a global network of stablecoins with the new hires and is already doing so. He defined:
We have worked to establish partners abroad with whom we can ultimately connect interoperable stablecoins that have been built according to center standards in other countries similar to USDC.
He also announced that Center was already in talks with a number of partners interested in bringing two different stablecoins to market in the European region. USDC, the stablecoin issued by Center, has seen great growth this year, trading at $ 27.4 billion at the time of writing, and one of its issuers, Circle, announced in July that it was last Will go public in the first quarter of this year.
However, USDC is still being dwarfed by USDT, the leading stablecoin in Tether’s market, which currently has a market cap of $ 66 billion and is represented in multiple chains including Ethereum and Tron. There are other major competitors in the stablecoin arena as well. Binance usd, dai and terra usd now complete the top 5 stablecoins by market capitalization.
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