Security for digital assets is undoubtedly one of Fireblocks’ top priority as an industry leader and multiple-time winner of top security awards. The company announced its decision to appoint a new Director of Central Banking Digital Currency and Market Infrastructure, Varun Paul.
Fireblocks Appoints CBDC Director
Fireblocks is a platform designed to provide a safe environment for the transfer, storage, and issuance of digital assets. The company successfully protects the transfer of over $2.6 trillion worth of digital assets, and is trusted by over 1,200 different financial institutions. Using Fireblocks’ unique MPC-based wallet and network infrastructure, FV Bank is one of such institutions seamlessly leveraging Fireblocks in its online banking platform for its international customers.
Varun who will report to Vice President and Head of Corporate Strategy Adam Levine of Fireblocks, holds a Master of Science in Economics from Cambridge University where he also completed his undergraduate studies.
Following his graduation from college, he went on to spend the next 14 years working for the Bank of England’s fintech hub and future of finance projects. He will be providing the organization with digital assets and crypto technology in his new role as a member of the Corporate Strategy team.
The vice president believes that Varun has the capacity to complement the digital asset strategy of central banks and market infrastructures. He is assured of significant growth as effect will be seen in the central bank community’s involvement in the process of integrating digital assets and blockchain technology, into traditional financial institutions on a large scale.
For Varun, this role is critical because it will allow him to educate important decision-makers about the benefits of engaging in the secondary economy powered by permissioned DeFi and securing digital assets. He states that digital asset and crypto-forward enterprises can always rely on Fireblocks, a clear leader in offering secure, scalable technology for digital asset and crypto-forward organizations.
Digital Assets And Their Role In Tokenization
As new director of CBDC and market infrastructure, Varun will be in charge of working with central banks and other financial institutions to get them on board with the idea of using digital assets and tokenization to facilitate transactions.
According to the International Monetary Fund (IMF), about 100 countries, including the United Kingdom, the United States, India, Singapore, and Switzerland, are considering CBDC projects or initiatives.