NYDIG Announces Appointment of Yan Zhao as President
Appointment comes on the heels of exponential growth for NYDIG, including the launch of the firm’s Bank Solutions business and acquisition of Digital Assets Data, a leading data, research, and analytics company
NEW YORK, NEW YORK – January 21, 2021 – NYDIG, a leading provider of investment and technology solutions for Bitcoin, announced today that it has appointed Yan Zhao as President of NYDIG. Zhao will help lead the firm’s long-term strategic vision, with day-to-day responsibility for NYDIG’s Platform Solutions business, including its newly-launched Bank Solutions practice. She also is a co-founder of Stone Ridge Holdings Group, NYDIG’s parent company.
“I’ve had the privilege of knowing Yan for over a decade,” said Robert Gutmann, co-founder and CEO of NYDIG. “She is a proven operator with diverse experience and an unwavering commitment to the democratization of financial services. We’re excited to have her join the NYDIG team during such a pivotal time in the institutional adoption of Bitcoin and we are confident she will help us better fulfill our mission of accelerating the future of finance.”
Zhao is a financial services veteran who in 2012 co-founded Stone Ridge, where she held a variety of senior leadership roles. She was most recently the CEO of Flourish, a fintech platform providing digitally enabled products to over 350+ registered investment advisors (RIAs), including its leading cash management product Flourish Cash. In December 2020 it was announced that Flourish, a Stone Ridge subsidiary, was to be acquired by Massachusetts Mutual Life Insurance Company. Prior to leading Flourish, Zhao was Head of Reinsurance at Stone Ridge, where she built and led the firm’s reinsurance offering into its largest franchise.
“The NYDIG team has built an incredible full-stack, proprietary technology and regulatory platform to service some of the largest and most sophisticated institutional investors,” said Zhao. “I am so excited to help even more consumers access this burgeoning monetary system by making our platform available to financial institutions, enabling them to offer embedded bitcoin products and services to their clients. Because we focus on institutions and intermediaries, NYDIG is uniquely positioned to partner with banks, fintech, and others who want to own the customer relationship.”
A recent survey conducted by NYDIG found that 81% of current bitcoin owners would be interested in buying bitcoin through their bank, if offered. Over 71% of bitcoin owners would switch their primary bank to a bank that offered bitcoin-related products in addition to traditional bank products. Additionally, 85% said they are interested in earning bitcoin through a credit or debit card rewards program. NYDIG recently announced the launch of a Bank Solutions practice, aimed at empowering banks and fintech companies to offer bitcoin-related products and services.
NYDIG is a leading technology and financial services firm dedicated to Bitcoin. The firm and its subsidiaries provide institutional investment, brokerage, treasury, and technology solutions to institutions, banks, and private clients, including insured custody, execution, asset management, financing, and research. NYDIG was founded in 2017 as the digital asset subsidiary of Stone Ridge Holdings Group, owner of a $10B+ alternatives asset manager in New York. NYDIG meets the industry’s highest regulatory, audit, and governance standards, and the firm’s subsidiaries hold both a BitLicense and a limited purpose trust charter from the New York State Department of Financial Services. For more information, visit www.nydig.com.