By Christie Harkin
Bitcoin Magazine
Tuesday, April 14, 201
5
https://bitcoinmagazine.com/articles/former-bitcoin-foundation-director-jon-matonis-joins-board-first-global-credit-1429046155
Jon Matonis has joined
First Global Credit
Board as a non-executive director where he will play an advisory role
related to strategic direction, security, due diligence and other
matters.
First Global Credit is a finance company that focuses
exclusively on digital currency products. Its aim is to bridge the gap
between bitcoin and fiat currencies through trading services, debt
instruments, merchant services and other strategies.
In a press statement,
Gavin Smith, chief executive and founding director of First Global
Credit said, “We are delighted to welcome Jon to the board; we have
found we share a mutual vision for both the future of bitcoin and how
First Global Credit will fit into that ecosystem. Jon’s comprehensive
knowledge and connections within the Bitcoin community will be extremely
beneficial to the growth and development of the business.”
Matonis, a founding board member and former executive director of the
Bitcoin Foundation,
has an extensive career in finance and Bitcoin. His resume includes
prior positions as CEO of HushMail and Director of Financial Services at
VeriSign. A high-profile figure and thought leader in the digital
currency community, he also serves on the boards or advisory boards of
several other companies in the space, including BitGame Labs, BitPay,
GoCoin and CoinDesk.
“There are a lot of companies that maintain bitcoin on their books,” Matonis said in an interview with
Bitcoin Magazine.
“Those bitcoins usually sit there dormant or even depreciating in
value. What First Global does is offer to collateralize those bitcoins
so that they can actually get a return.”
Matonis gave the example
of online gaming. Traditional casino operators are able to get a return
on their floats. But up until now, bitcoin casinos have not been able to
do this. First Global offers them an opportunity to generate a yield,
said Matonis.
“I’m also excited by the ability to use bitcoin
assets as collateral for trading in the futures and options markets,”
Matonis added. “Currently, T-bills can be used as collateral on various
exchanges, but no one has structured it with bitcoin. First Global
Credit plans to add futures markets as one of the markets available via
their program.”
“Jon has the big picture,” said Marcie Terman,
communications director for First Global. “He has the Bitcoin background
and the financial background. He can look at our systems and make sure
they are as robust as possible. It will be great to have him as a
resource to speak on our behalf with government bodies.
Matonis
has presented at conferences across the world on bitcoin and its
disruptive economic implications to a wide variety of audiences,
including members of the Federal Reserve, Bank of England, European
Central Bank, SWIFT, IRS, DHS, payment networks, major financial
institutions,, hedge funds and family offices.
Terman also
expressed a hope that Matonis would be helpful in bringing in outside
financing as the company starts to look outward for equity
participation.
“The Bitcoin market is at a pivotal stage in its
development,” Matonis said "Having been adopted as a transaction
currency by many, the next necessary step in bitcoin’s evolution is to
prove itself as a true investment vehicle, an instrument with a fully
functioning capital market."
Other announcements:
http://bitcoinist.net/first-global-credit-jon...utive-director/
target="_blank"
http://insidebitcoins.com/news/first-globa...-director/31748
< target="_blank"br>
http://www.financemagnates.com/executiv...-global-credit/
http://www.coinfox.info/news/persons...cutive-director
