Former CEO of Visa UK and Ireland, Marc O’Brien, is joining a cryptocurrency startup, Crypterium, as CEO. The first service will be launched soon during the autumn season. The firm is planning to partner with both Visa Inc (NYSE:V) and MasterCard Inc (NYSE:MA) to design cryptocurrency cards for users to be able to make prompt transactions via digital wallets. According to O’Brien, the card will be linked to the wallet that will be created every time the client makes a payment using virtual currencies.
Moving From Finance to Managing Cryptos
O’Brien, is a leading payment services expert in the UK who worked for Visa UK and Ireland from 2008 to 2014. He possesses over 25 years working experience in financial services and has held various managerial positions in both FinTech and RegTech. Before joining Visa, O’Brien worked as an expert advisor for MasterCard. In addition, he has launched and managed several contactless technology programs in the UK including initiating the advancement of the transport system in London.
O’Brien is now expected to lead the launch of the Crypterium App that will allow users to easily transact with cryptocurrencies as an alternative paymetn option compared to cash and credit cards that usually are slow.
Clients will be required to obtain their virtual cards, link them with Apple Pay, Samsung Pay, or Android Pay, together with their respective crypto accounts and transact via any NFC terminal or QR codes. According to Kimm, COO of Crypterium, O’Brien brings on board his experience and technological know-how to create a global banking solution that will not rely on peers.
Crypterium intends to make the transaction process seamless to allow users to use cryptocurrency to make an everyday purchase of an item to bridge the existing gap in the market by making the process instant. Currently, the startup has a team of three people based in London and ten more in Moscow. The firm plans to open branches in New York, Miami, and Singapore.
Crypterium is basically a mobile app that converts coins and tokens into fiat money to facilitate cash transactions. Users are allowed to pay for services in online stores, pay bills or send money across borders within seconds.