Fireblocks appoints a former Head of the Bank of England as Director of CBDC

Varun Paul, a former head of fintech for the Bank of England, has accepted the position of Central Bank Digital Currency Director (CBDC), and Market Infrastructure director at Fireblocks, a digital asset security company.

Former Bank of England Head Hired by Fireblocks

In an official press release today, the firm noted that Paul’s vast experience working with the Bank of England would boost Fireblock’s efforts to develop infrastructure for CBDC integration.

Paul left the financial institution in 2013 after serving more than 13 years, to accept a job at a crypto company. He held multiple positions at the BoE, including spearheading the bank’s fintech hub.

Fireblock’s former BoE head will continue to engage with central banks and market infrastructure agencies as they start adopting digital assets on a larger scale.

Additionally, he will help the firm to explore the benefits of participation in the DeFi marketplace while also educating key decision-makers about secure and scalable digital asset transaction solutions.

Paul commented on his new role and said:

“Fireblocks is the clear leader when it comes to providing secure, scalable technologies for digital asset and crypto-forward businesses. Financial innovation in CBDC, DeFi, and tokenization is rapidly accelerating, and my new role at Fireblocks allows me the privilege and opportunity to work alongside some of the most forward-thinking organizations in the world as they prepare for one of the sector’s greatest transformations.”

Check out CBDC for more information about Central Banks

This is because central banks from different countries are researching or planning to issue a digital version of their fiat currencies.

Fireblocks aims to be at forefront of this global revolution and provide central banks and other significant bodies with the technical expertise and infrastructure necessary to integrate CBDC.

“From CBDC developments to the tokenization of traditional financial assets, bridging digital assets and blockchain technologies to traditional institutions at scale will require strong working relationships with the central bank community. We are excited about Varun’s ability to help support the digital asset strategy of central banks and market infrastructure,” Fireblock’s head of corporate strategy, Adam Levine, said.

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