Former Nike CIO Anthony Watson Becomes Bitreserve CEO

Former Nike CIO Anthony Watson has taken the reins as Bitreserve's CEO, two months after joining as President and COO.

Bitreserve uses Bitcoin as a backbone for Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term, pegging all deposits to fiat currencies and commodities to avoid its Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad Read this Term.

Watson had left Nike after serving for only ten months, saying he was looking for more of an urban life than the setting in Portland, Oregon, where Nike is located.

He replaces former Bitreserve CEO and founder Halsey Minor, who will now assume the role of board chairman and “chief visionary."

Also this month, the startup appointed former Mastercard executive Bill Dennings as Chief Information and Security Officer, and Tim Parsa as Chief Compliance & Transparency Officer and Head of Regulatory Relations.

In a note to investors, the startup also highlighted some of its performance metrics to date:

• Since launching in November, it has processed 25,601 transactions worth $16.5 million.
• There are 16,324 members in 154 countries.
• Total reserves have grown at an average rate of 108% per month.

It also noted its claim as being the first company to allow conversions and transfers free from any fees, including commissions or bid-ask spreads.

Currently, supported fiat currencies include USD, GBP, EUR, JPY and CHF, as well as the Indian rupee and Mexican peso. Also supported are the precious metals gold, silver, palladium and platinum.