Nadine Chakar is joining institutional tokenization startup Securrency as CEO on January 9. It was announced in late October that she was leaving State Street, where she was the founding Head of State Street Digital, the digital assets division launched in mid-2021.
Chakar was previously State Street’s Head of Global Markets and before that, Global Head of Operations and Data at ManuLife. She spent more than eight years in senior roles at BNY Mellon.
She has been vocal in her opposition to restrictions on institutions providing custody services for digital assets. That included the U.S. SEC insisting that digital assets under custody appear on the balance sheet. Proposed Basel rules for banks were thought to require banks such as State Street to set aside a dollar of capital for every dollar of digital assets under custody, which would not be viable. However, the final Basel rules clarified the dollar-for-dollar capital requirement will not apply to custody. The more accommodating rules resulted from industry feedback, including Chakar’s.
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