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Former JPMorgan exec joins blockchain precious metals startup Tradewind as CEO

Wed, 01 May 2019, 10:59 am UTC

Tradewind, a fintech company digitizing precious metals using blockchain technology, has announced the appointment of former J.P. Morgan executive Michael Albanese as chief executive officer.

Founded in 2016, Tradewind enables physical assets to be traded, settled, and mobilized with increased confidence, security, transparency, and cost efficiency. It uses both blockchain technology and electronic exchange technology to streamline custody, trade execution, settlement and the maintenance of supply chain information.

Albanese will bring his extensive experience spanning more than 20 years in banking and securities markets to Tradewind. Previously, he served at J.P. Morgan in various roles including Global Head of Agency Collateral Management, Global Head of Securities Clearance, and the Head of the Corporate Trust business in Japan. He will assume day-to-day leadership of Tradewind effective immediately.

“Michael is a leader with significant experience working with corporations, creating capital-efficient products, operating at scale, and delivering value to shareholders,” said Blake Darcy, Executive Chairman of Tradewind. “The Board and I are confident that he is the right person to take Tradewind to the next level in our global pursuit of a more efficient, transparent, secure and cost-effective precious metals ecosystem.”

The inaugural products available on the Tradewind platform are VaultChain Gold and Silver. The Tradewind platform has been adopted by leading institutions in the precious metals market, including the Royal Canadian Mint and Asahi Refining. Investors include IEX Group, Sprott, Goldcorp, Agnico Eagle Mines Ltd., IAMGOLD Corp, and Wheaton Precious Metals Corp.

“The VaultChain products are the next generation solution for trading - and managing ownership of - physical gold and silver vaulted with the Royal Canadian Mint,” the website reads.

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