Joseph Seibert, the former head of Digital Asset at Signature Bank, along with four members of his payments team, have moved to Fortress Trust; a Nevada based chartered trust company that puts its main focus on cryptocurrency and the Web 3.0 era. The closure of Signature Bank was announced in March, after the collapse of Silicon Valley Bank (SVB). Fortunately, the trust company was already in the works of building and launching the Signet real-time payment platform which was integrated with digital asset custodian Fireblocks in 2020. Seibert is now the Managing Director of the Fortress Digital Assets business.

Fortress Trust has been formed by Scott Purcell-who had already supervised digital asset innovation at Nevada’s Prime Trust prior to that. This company benefits from the 22 money transmitter licenses held by them and offer crypto solution to exchanges, OTC desks, and those in the industry who need post-Signature savings at Fortress.

Taking to CoinDesk, Seibert expressed his excitement in the move. He stated that he, along with four members of his Digital Assets team, have come over to the trust company. Also, he plans to add more individuals from Signature’s operations team and some salespeople but at a later date.

The advantages of blockchain technology have been felt all over the world. The issue of borderless payments and other technical capability within this field offers a degree of convenience that is unparalleled. The move of Seibert, along with four of his team to Fortress Trust is a true testament to the quickly advancing field, and the ability of talented individuals to stay abreast of the changes, ensuring success in the future.



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