July 9 (Reuters) – Matt Homer, who previously led the New York Division of Monetary Companies’s innovation division, has joined Nyca Companions, the enterprise capital agency based by ex-Visa President Hans Morris, the corporate mentioned.
Homer has been appointed Nyca’s first govt in residence, and can assist the funding agency develop its cryptocurrency technique.
Nyca is without doubt one of the most well-known enterprise capital companies targeted on fintech and has a backed quite a few established corporations together with Acorns, Affirm Holdings Inc (AFRM.O) and Revolut.
“We’re past a tipping level with cryptocurrencies, there are lots of of hundreds of engineers specializing in cryptocurrency functions,” Morris, Nyca’s managing companion, mentioned in an interview. He added that the agency would look to spend money on startups constructing functions wanted to help mainstream adoption of cryptocurrencies.
Homer based and led NYDFS’s innovation division, a division which spearheads the watchdog’s efforts on fintech, insurtech and cryptocurrencies and goals to make New York a sexy hub for digital monetary providers corporations.
His time at NYDFS coincided with a increase in cryptocurrency markets, and a rise in additional mainstream monetary providers agency getting into the sector.
“It is fairly clear to me that the crypto financial system is right here to remain however the services and products that may final the check of time are these that may combine and improve conventional finance,” Homer mentioned in an interview.
Previous to becoming a member of NYDFS Homer was head of coverage and analysis at startup Quovo, labored on the Federal Deposit Insurance coverage Company and launched two innovation facilities at USAID.
Reporting by Anna Irrera; Enhancing by Andrea Ricci
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