Fidelity’s Head Of Cryptocurrency And Blockchain Joins Blockchain Startup Bloq
Chicago-based blockchain technology startup Bloq has announced that it has hired former Fidelity Investments' blockchain incubator, Hadley Stern, as its first chief operating officer.
Chicago-based blockchain technology startup Bloq has announced that it has hired former Fidelity Investments’ blockchain incubator, Hadley Stern, as its first chief operating officer.
He is expected to be at the helm of foreseeing rapid growth for the start in its efforts to take a leading role in cryptocurrency adoption.
Bloq’s first-ever COO will be in charge of steering the company towards reaching its goals in creating highly developed blockchain-based software and enterprise-grade solutions for companies and businesses.
Hadley’s exit means Fidelity loses top crypto executive
Stern’s appointment as COO for Bloq comes days after investment giant Fidelity announced the creation of Fidelity Digital Assets, a subsidiary that aims to bring crypto trading to the institutional investor.
Stern has been at Fidelity for the better part of seventeen years, having recently overseen the creation of the digital asset incubator. As expected, his exit from the Wall Street giant to the blockchain startup raised a few eyebrows.
However, this wasn’t exactly out of the blues; it was more of the next natural step for the highly rated Stern.
For the last four years, Stern has worked closely with Bloq co-founders at the Fidelity Lab. He reportedly became fascinated with the startup’s crypto initiatives and felt hugely impressed by its leadership.
Stern explained in his personal blog:
“I’ve watched Bloq over the years from the outside — even worked together on a Fidelity project — and the vision of co-founders Jeff Garzik and Matthew Roszak resonated strongly, as did what they were building.”
Hadley Stern on joining Bloq
Stern said in an earlier interview that Bloq’s co-founders displayed a great understanding of the blockchain industry, noting that they were really bullish on the aspect tokenizing almost everything within the crypto industry.
He said he had had a great seventeen-year career at Fidelity and added that:
“In moving to Bloq, I not only seek to not only explore blockchain technology more deeply but also its myriad applications in industries outside of financial services.”
He also wrote in a blog post that he could not pass on a project that seeks to make tokenization simple and achievable.
Bloq’s co-founder Roszak stated that Stern’s move to their platform was an illustration of how the overall cryptocurrency world was rapidly expanding and attracting the best minds from conventional firms.
He called Hadley a better partner and “absolutely” suited for his role as the company seeks to grow its business. In a press release announcing Hadley’s appointment, Roszak also said that Stern had “distinguished himself as a fearless innovator.”
What Next For Fidelity
In an official statement, a Fidelity spokeswoman explained their next move in light of the latest developments. She said that the company remains focused on its custody service with the launch of the digital assets arm.
She added that there are no fears of the company losing more employees, saying that Fidelity is an attractive workplace. The official added that with the launch of Fidelity Digital Assets, there were seeing an increase in interest from talents from within the crypto community.
As for the exit of highly valued Stern, she said:
“Katie Chase is now spearheading Blockchain Incubator at Fidelity Center for Applied Technology and has been [part of the team] for several months.”
Bloq focused on the future
The move to Bloq sees Stern embark on a roadmap that should see the initial focus expended in growing and delivering innovative products and blockchain-based services targeting Fortune 50, crypto 50, and improving the innovations incubated at Bloq Labs.
In moving Bloq ahead, Stern has pointed out that he understands the “enterprise viewpoint,” both from its product standpoint as well as customer standpoint.
Bloq has set its sights on becoming the leading firm for crypto startups seeking to tokenize assets. It will also use its intellectual capital to incubate new blockchain-based companies, products, and services.