Digital Asset Holdings (DAH) has appointed former JPMorgan Executive Blythe Masters as the new chief executive officer. It plans to develop software for financial institutions to trade cryptocurrencies.
Masters worked with JPMorgan for 27 years and is one of the pioneers in the use of credit default swaps, derivative instruments designed to hedge against bad loans. She took over as the chief financial officer of JPMorgan's investment bank in 2004 and as the head of Global Commodities in 2007. She quit the bank in 2014, around the same time the bank liquidated its commodities business.
DAH's new software intends to provide a secure trading and settlement environment for cryptocurrencies along with providing security against counterparty failures that have affected several exchanges to date. Moreover, it also wants to develop tools to convert traditional securities and currencies into digital form so as to facilitate more efficient trading.
