Blockchain -payment provider Tassat Group has appointed his president and chief strategy officer Glen Sussman as new Chief Executive Officer, the company said in a press release on Tuesday.
Sussman, who came to Tassat in 2021, will follow the departing CEO Zain Saidin. Saidin will stay on the company’s board and play a new role as a senior adviser, to support the institutional growth strategy of Tassat, the company said.
During Sussman’s time at the company, he helped launch his flagship products.
This includes Lynq, a real-time, interest-bearing settlement network for digital asset settings, built with Arca Labs and Tzero, as well as the digital interbank network, the first American tokenized deposit network that works within the regulating perimeter, Tassat said.
The leadership change comes when Tassat seems to expand the footprint of Lynq, which describes it as a fully integrated settlement platform that is supported by intellectual property “interest-in-transit”.
The company said that it expected to achieve important development mile poles in the coming months, because it works to increase access and to increase acceptance between institutional partners.
“Tassat is uniquely positioned to provide the next chapter with market infrastructure with electricity,” Sussman said in the release.
“We look forward to using solutions that accelerate the acceptance of stablecoins, tokenized deposits and digital assets effects, while supplying an infrastructure of institutional quality to stimulate the future of regulated finances,” he added.