Elliptic, a full-service Bitcoin custodian for the capital markets, today announced Kevin Beardsley as its new Head of Business Development. Beardsley will be the eighth member of this rapidly growing fintech startup, which in its first year has already become the only Bitcoin custodian in the world to be both comprehensively underwritten by a Fortune 100 insurer and accredited by a Big Four.
Beardsley 31, joins Elliptic from Bitcoin Foundation, where he served as Director of Membership. He will be responsible for growing the client base for Elliptic Vault, an enterprise-grade insured storage for Bitcoin holdings. Already it is the Bitcoin custodian of choice for investment funds and publicly listed firms which represent more than $3BN in market cap.
The challenges associated with securing private keys and blockchain assets are being addressed in real time, and on a global scale. Startups around the world, like Elliptic, are defining technology and processes that will set the stage for a new generation of blockchain asset storage. Beardsley said, “It seems every day you read about another hack. With at least 5% of all Bitcoins already lost or stolen, the Bitcoin ecosystem desperately needs an accredited custodian like Elliptic to make Bitcoin a valid option for the capital markets. I am delighted to be joining the pioneers that are making that happen.”
Beardsley served Bitcoin Foundation for most of 2014, where he worked closely with Bitcoin companies globally and helped introduce Bitcoin to traditional financial service companies throughout Europe.
Elliptic CEO, Dr. James Smith, said, “We believe that even the best technology is only ever half of the solution. We take the time to make sure the operational details are right, which includes things like onboarding fund administrators, educating management teams, and working with local regulators. Kevin’s proven passion for the digital currency ecosystem can only enhance and strengthen our commitment to deliver best-in-class technology combined with deep operational expertise.”
The company is the founding member of UK Digital Currency Association (UKDCA) and is working with the UK government and financial regulators to help shape a sensible regulatory framework for digital currencies.