Welcoming Former Banker and U.S. Regulator Joseph Otting to the Blockchain.com Board of Directors
With over a decade of innovation within crypto, Blockchain.com has earned its longevity by being one of the most stable players in the space, largely thanks to our conservative and experienced leaders. Today, I’m pleased to build on that reputation by welcoming former U.S. Comptroller of the Currency Joseph Otting to our board of directors, where he will also chair our audit and risk committee.
Joseph has served in the highest levels of the U.S. government. From 2017 to 2020, he was chief officer of the Comptroller of the Currency (OCC) — the primary federal banking regulator — where he supervised nearly 1,400 national banks, federal savings associations, and federal branches and agencies of foreign banks operating in the U.S. While at the OCC, his remit was to ensure that national banks and federal savings associations have safe and sound operations, provide fair access to financial services, treat customers fairly, and comply with applicable laws and regulations. Prior to becoming Comptroller of the Currency, Joseph was a seasoned executive in the banking industry, serving as President of CIT Bank and President, CEO and Board Member at OneWest Bank, as well as in senior posts at U.S. Bancorp, Union Bank of California, and Bank of America.
“Crypto is in an era similar to the pre-consumer-use period of the early 1990s when the internet was being built but before it was a way of life,” said Joseph Otting. “It also reminds me of the earlier days of banking, when the industry was navigating its digital shift. I’m honored to join the board of Blockchain.com and help it navigate the regulatory landscape as one of the most established firms in its space.”
The coming decade will be important not just for Blockchain.com, but for the entire crypto industry. With entrepreneurs, builders, employees and users engaging in the space coupled with healthy dialogue with global regulators, it’s important that we continue to relentlessly ship products that people love — while working towards a permanent regulatory framework to govern the space.
As Blockchain.com and the crypto industry grow and become more ingrained in people’s lives, Joseph’s perspective and expertise in banking, financial policy and regulation will serve as an incredible asset to the company. Welcome Joseph, and can’t wait to work with you to build the future of finance.