Crypto Lending Startup BlockFi Hires Tony Lauro As Chief Financial Officerbr>
Crypto lending platform BlockFi has hired Tony Lauro as its new Chief Financial Officer (CFO).
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.
Lauro previously worked at Intermex as CFO, and helped take IMXI public in 2018. Prior to Intermex, he served as the President and CFO of Cognical, Inc., where he worked alongside BlockFi Founder & CEO Zac Prince. He also held numerous roles over nine years at Capital One, including CFO of the Prime and Superprime credit card portfolios, which totaled $22B in assets at the time. From 2013 to 2016, he was the CFO of the Merchant Services division of JP Morgan Chase, which was the largest merchant acquirer by volume in the US at the time. While at Chase, Lauro also served as Chairman of the Board of Directors at Merchant Link, a joint venture of JP Morgan Chase and First Data Corp.
BlockFi said that Lauro will play a critical role in expanding the company’s product and service portfolio, while growing the company’s global presence and standing as an innovative, dynamic financial institution.
“We’re excited to welcome Tony to the BlockFi team,” said Zac Prince, Founder and CEO of BlockFi. “His wealth of experience across financial services will be a strategic asset for BlockFi as we continue to grow rapidly and expand our product suite.”
“BlockFi is doing extraordinary work in bringing crypto to a wider audience of investors. The company is adding greater efficiencies to the flow of capital, and providing critical financial services for the fast-growing crypto market,” said Lauro. “I’m thrilled at the opportunity to work with Zac again, and to help BlockFi realize its tremendous potential while strengthening the company’s standing as a leader in the digital asset space.”