Nick Chong · 18 hours ago · 2 min read
A former CEO of Visa, Marc O’Brien, has been appointed Chief Executive of Crypterium — a crypto mobile payments solution.
This has been an eventful week! #Crypterium, the world's first cryptobank, is now led by a legendary fintech entrepreneur Marc O'Brien, our website has got a facelift, and the App has been updated with numerous improvements. https://t.co/Ywkt1WGLeQ
— Crypterium (@crypterium) May 19, 2018
Crypterium to see consumers spend cryptocurrency as they would fiat, the post-ICO startup is building a mobile “Cryptobank” for everyday purchases of fiat-based goods and services — which they believe is “enabling cryptocurrency to go mainstream.”
The appointment of O’Brien — a former CEO of Visa and a previous advisor to Mastercard — may be seen by many as a victory for the Estonian-based startup.
With 25 years of experience in the FinTech, RegTech, and Finance industries, O’Brien’s first labor as Crypterium CEO will be launching the Crypterium’s mobile payments application.
Crypterium’s flagship application is intended to instantly convert a user’s assets into fiat — making it useful for spending in-store via Point of Sale terminals or QR codes, shopping online, paying bills, or cross-border payments.
At the nucleus of this system is Crypterium’s “virtual card” — which will link to pre-existing digital payment solutions such as Apple Pay, Samsung Pay, and Android Pay. To realize this goal, Crypterium will presumably leverage O’Brien’s dealings in electronic payments.
Alongside the addition of Litecoin support for their app, Crypterium’s CRPT appears to have gathered steam at the prospect of O’Brien’s leadership, witnessing a series of rallies following the announcement.
Cryptofkrz presents the #COTD for 05/12/2018. Yesterday the best performing coin was Crypterium with 25.16% increase. Meanwhile the worst performing coin Pillar did lose 11.27%.
#invest #blockchain #crypto #cryptocurrency #pillar #crypterium pic.twitter.com/C0DO616zeQ
— Cryptofkrz (@cryptofkrz) May 13, 2018
Taking the helm at Crypterium, O’Brien noted:
“I am delighted to be joining Crypterium at such an exciting time. I strongly believe that cryptocurrency is about to go mainstream and we can be pioneers to build Crypterium into a terrific business”
Yet historically, such infrastructure struggled to solve the issue of cryptocurrency volatility — a thorn in the side of existing payment solutions.
While Crypterium claims to have engineered a means to nullify rapid price fluctuations, they appear to be keeping it closely-guarded— O’Brien describing it to Business Insider as the company’s “secret sauce”.
Cryptocurrency: The Future of Finance?
For many, O’Brien’s appointment will likely be a psychological win in an era filled with Fear Uncertainty & Doubt (FUD). Once a marginal technology, blockchain continues to garner steady institutional interest — in this particular case from an ex-head of the world’s leading payments provider.
Whether O’Brien lends Crypterium enough punch to succeed, or fall short, this addition to the blockchain industry sends a clear message about the consistent institutional acceptance of cryptocurrency as a legitimate means of payment.