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Swaps Pioneer Leads Virtual Currency Startup

Former JPMorgan executive who helped develop CDS is named CEO of bitcoin-settlement business.

By John Detrixhe, Matthew Leising, and Silla Brush, Bloomberg | Updated on March 12, 2015

Former senior JPMorgan Chase & Co. executive Blythe Masters is heading a cryptocurrency startup that aims to overhaul the way traded assets are settled and recorded.

Masters, who helped develop credit-default swaps two decades ago, was named Tuesday as the chief executive officer of Digital Asset Holdings LLC. The New York-based company plans to use bitcoins and blockchain technology for settlement and record-keeping of the likes of stocks, mortgages, or loans.

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