BitGo, a global crypto custodian firm, has appointed Ben Reynolds, former president of Silvergate Bank, as managing director to lead its stablecoin USD Standard. Reynolds brings over 25 years of experience in fintech and banking and will drive the expansion of USD Standard. BitGo unveiled USD Standard in mid-September, offering rewards for institutions that provide liquidity. The move comes as BitGo faces increasing competition from new entrants like Coinbase and Kraken. Reynolds expressed enthusiasm for the opportunity to redefine what a stablecoin can be and create a more accessible and resilient financial system.



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