Crypto Firm Circle Hires Disparte From Facebook-Backed Diem

Circle Internet Financial Inc., a developer of the USD Coin digital token, has hired an executive from the Facebook Inc.-backed Diem Association to spearhead strategy and policy efforts.

Dante Disparte is joining as chief strategy officer and head of global policy, Circle Chief Executive Officer Jeremy Allaire said Monday. Disparte was executive vice president at the Diem Association, which plans to build the cryptocurrency and payment network previously known as Libra.

Cryptocurrency firms are beefing up their top ranks to shape the emerging regulatory environment and tackle lingering skepticism about digital tokens. Governments are inspecting risks around the sector more closely as Bitcoin booms and the investor base widens.

“Circle is embarking on an ambitious global expansion effort as stablecoins, digital assets and public blockchains become critical global infrastructure,” Allaire said in an interview. Circle’s USD Coin -- a stablecoin -- is redeemable one-to-one to the U.S dollar, and more than $11 billion are in circulation, according to the firm’s website.

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