Marc O'Brien, the former chief executive of Visa UK and Ireland, will be taking on the role of chief executive for the world's first mobile cryptocurrency bank.
O'Brien, who left Visa in 2014, will be leading crypto start-up Crypterium which is a mobile service that aims to simplify cryptocurrency transactions as many still struggle to understand the concept of blockchain technology.
Through the service, users are issued digital debit cards that are bound to different cryptocurrency accounts which can then be linked to Apple Pay, Samsung Pay or Android Pay. The cards can then be used at any contactless payment terminal.
O'Brien said: “I am delighted to be joining Crypterium at such an exciting time. I strongly believe that cryptocurrency is about to go mainstream and we can be pioneers to build Crypterium into a terrific business.”
In between his job at Visa and appointment of chief executive for Crypterium, O'Brien was an advisor at the app-based fintech bank Revolut where he worked closely with the two founders Nikolay Storonsky and Vlad Yatsenko.
Austin Kimm, the chief operating officer of Crypterium, said: “We are genuinely very excited by Marc's appointment. He brings the experience and know-how to build a global banking solution that will have no peers.”
Crypterium was originally established in Estonia in 2017, but has now offices in London and Moscow with plans to open offices in New York, Miami and Singapore.
The company had by the end of 2017 managed to raise almost $52m (£38.6m) through an initial coin offering (ICO).