Crypto Lending Startup BlockFi Hires Former American Express And Credit Suisse Executivesbr>
Crypto lending platform BlockFi has hired Wittney Rachlin as Chief Growth Officer and David Olsson as Global Managing Director of European and Asian markets.
Based in New York, BlockFi is a non-bank lender that offers USD loans to cryptocurrency owners. The firm services clients in over 100 countries, and in all 50 US states. Its offerings include crypto-based interest accounts providing up to an 8.6% annual percentage yield on bitcoin, Ether and stablecoins; crypto-backed loans which allow investors to access liquidity up to 50% of an asset’s value in USD; and zero-fee trading.
Rachlin, who has 20 years of financial services experience, previously served executive leadership positions with Prudential Financial and American Express. She drove consumer and commercial growth for American Express for over 14 years where she accelerated revenue by 20% for four Business Card products and managed a relaunch to drive customer spending, identify engagement opportunities and win loyalty with enhanced experiences.
As BlockFi’s new Chief Growth Officer, Rachlin will be responsible for leading several aspects of the business to drive growth, including marketing, business development and the launch of products in the payments space including a Bitcoin rewards credit card slated to launch later this year.
“After I made my first bitcoin purchase I was hooked on crypto. You don’t have to be a tech or finance expert to invest in digital currencies, and BlockFi is doing something truly remarkable in the financial services space with an approach to digital assets you don’t normally see in the startup world today,” said Rachlin. “Anyone can be a crypto investor, and I’m looking forward to growing our client base and encouraging more people to jump in and benefit from this digital gold rush.”
Befor joining BlockFi, Olsson managed teams at Bank of America Merrill Lynch and Credit Suisse covering prime brokerage and equity derivatives. Most recently at Credit Suisse, Olsson ran a private banking team focused on Ultra-High Net-Worth clients, providing sophisticated investors with holistic portfolio advice from investments to financing.
As Global Managing Director for BlockFi, Olsson will be responsible for growing the company’s institutional services overseeing business development, risk management and sales strategy, across European and Asian markets.
“Traditional financial markets today are going through unique hurdles that have proved, and continue to prove, to be a challenge to overcome. However, with this, there is also opportunity, and a door has been opened for new solutions and infrastructures, like blockchain technology, to shine,” said Olsson. “In ten years, blockchain technology will be de facto across industries, and financial markets will be no exception with securities and digital assets on the chain. BlockFi has operated with zero losses since its inception and is well poised to lead the market for institutional clients across the globe.”