Former NYSE CEO joins blockchain board of directors

Paxos appoints former NYSE CEO as it looks to strengthen position in blockchain post-trade settlement.

The former chief executive officer at the New York Stock Exchange (NYSE), Duncan Niederauer, has been appointed to the board of directors at blockchain firm, Paxos.

He joins the company’s fellow board members, which includes former FDIC Chairman Sheila Bair, former US Senate Bill Bradley, former FASB chairman Robert Herz and former CEO of Lotus Development Corporation, Jim Manzi.

Discussing the appointment, Niederauer said blockchain technology promises to ‘revolutionise’ the post-trade clearing infrastructure.

“Paxos' Bankchain platform is poised to offer unique market efficiencies and automation for the benefit of all investors,” he explained.

Niederauer served as CEO at NYSE from 2007 to 2014 and worked as a partner at Goldman Sachs prior to joining the stock exchange. 

Charles Cascarilla, chief executive officer at Paxos, said: “Duncan has been at the forefront of innovation and transformation in capital markets and will be instrumental as we continue to grow."

Earlier this month, former commissioner at the Securities and Exchange Commission (SEC), Daniel Gallagher, joined the board of directors at blockchain start-up, Symbiont.

Gallagher was commissioner at the SEC for four years and before joining regulatory consulting firm, Patomak Global Partners.