CEO, DIGITAL ASSET HOLDINGS
Blythe Masters became a managing director at JPMorgan Chase when she was just 28, and she proceeded to spend 27 years with the bank, including as head of global commodities, CFO of JPMorgan Investment Bank and head of its global credit portfolio. Then she left, and after a brief stop at Banco Santander (where she’s still an advisor), she joined an under-the-radar fintech startup, Digital Asset, as CEO.
Digital Asset is using blockchain, essentially the technology that supports Bitcoin, to improve the efficiency with which financial institutions and exchanges process orders. The software comprises “distributed, encrypted straight-through processing tools that radically improve efficiencies, reduce costs, reduce risk and enhance regulatory compliance,” Masters says. Digital Asset’s technology works behind the scenes—most people will never know it’s there—and helps eliminate time-consuming post-trade record keeping.
In its simplest terms, Digital Asset’s technology allows every intermediary in a transaction, as well as regulators, to share the same ledger, which updates itself automatically whenever all of the parties agree to a change, such as a sale or transfer. While it isn’t flashy, it could be revolutionary, helping banks improve their margins and reliability. “It renders much of the need for post-trade regulatory reporting redundant” and “not only directly cuts costs, but also reduces capital requirements,” Masters says.