Paxos Adds Former NYSE CEO Duncan Niederauer to its Board of Directors

Paxos, a financial technology company that provides Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term solutions to the global financial industry, has announced a new senior appointment, adding Duncan L. Niederauer to the group’s board of directors, according to a company statement.

Mr. Niederauer joins Paxos after serving as the CEO of the New York Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term (NYSE). In his new role he will be working alongside a multitude of other veteran leaders, boasting a board that includes former FDIC Chairman Sheila C. Bair, former U.S. Senator Bill Bradley, former FASB Chairman Robert H. Herz, and former Chairman, President and CEO of Lotus Development Corporation Jim Manzi.

Mr. Niederauer previously served as the CEO of NYSE between 2007-2014. Prior to this he also worked as a partner at Goldman Sachs for over two decades, among other senior leadership roles.

According to Charles Cascarilla, CEO of Paxos, in a recent statement on the appointment: "Duncan is an exceptional addition to our board and we will benefit from his over 30 years of leadership experience in developing products and building companies in financial services. Duncan has been at the forefront of innovation and transformation in capital markets and will be instrumental as we continue to grow."

"I'm delighted to join the Paxos Board of Directors during a time of evolution within capital markets. Blockchain technology promises to revolutionize post-trade clearing infrastructure and Paxos' Bankchain platform is poised to offer unique market efficiencies and automation for the benefit of all investors. I'm excited to join a team of distinguished board members and work with the Paxos management team," explained Mr. Niederauer in an accompanying statement.