JP Morgan Exec Leaves The Company, Joins Blockchain Startup Tradewind

JP Morgan Chase Global Head of Agency Collateral Management, Michael Albanese, has joined blockchain startup Tradewind as CEO, the latter announced in a press release.

The former JP Morgan Chase executive was optimistic about what Tradewind was doing, and speaks of how the company has already successfully deployed the technology,

Clear opportunities exist to improve how physical assets trade, settle, are custodied, and are mobilized as collateral—both in the precious metals space and beyond. Smart deployment of technology can benefit multiple participants in the ecosystem. I am excited to join a company that has already successfully executed on a major asset class.

Blake Darcy, Executive Chairman of Tradewind, returned the compliment by saying that Albanese’s decades of experience would help Tradewind evolve,

Michael is a leader with significant experience working with corporations, creating capital-efficient products, operating at scale, and delivering value to shareholders. The Board and I are confident that he is the right person to take Tradewind to the next level in our global pursuit of a more efficient, transparent, secure and cost-effective precious metals ecosystem.

Tradewind is a fintech company that digitizes precious metals. It aims to gather together all stakeholders in the precious metals industry on its Vaultchain platform. The platform is private and permissioned, and limited to bullion dealers, regulated broker dealers and institutions.