Passing the Torch
The following message announcing the new CEO was shared with our FMF community members yesterday.
25 September 2019
To the Formosa Community -
Today is my last day as CEO of Formosa Financial.
As I think back on time spent conceptualizing and assembling the pieces of the platform step by step, line by line, conversation by conversation, I am filled with gratitude for all the assistance and support I received along the way — from our advisors, friends, family, partners, FMF backers, and everyone else that believed in the idea of building a transformational fintech company in Taiwan.
While this is the end of my Formosa journey, it represents a continuation and fresh start for a reinvigorated team to turn these pieces into a business that can keep pace with a hectic industry and operate a business at scale. I could not ask for a better person to carry the torch than Jeremy Firster. His years of experience doing corporate banking in Taiwan alongside his deep blockchain expertise and network make him the perfect fit to deliver the products and services that are in demand.
I am honored to have had the opportunity to lead Formosa Financial and wish Jeremy and his team all the best for the road ahead.
Sincerely,
Ryan Terribilini
25 September 2019
Dear Formosa Financial Community,
It is with great pride that I announce my acceptance as CEO of Formosa Financial. Since the beginning I felt that this company had a truly special idea, one that can truly deliver an impact on the crypto-industry at large. While transitioning to CEO, I would like to give my thanks to all members of the community who have supported us since the beginning.
This is a new beginning for Formosa Financial, where the original senior management team have now all left the company. There are challenges both at a company and industry level to overcome. However, this is an opportunity for change; for concentrated efforts to grow the business which is born from the early whitepaper concepts.
Formosa Financial would not be possible without Ryan. I’m happy to announce that his vision of the company structure and insights into the macro crypto-economy will stay present as he transitions to his new role, special advisor. My second announcement is that Formosa Financial will continue to operate as a standalone entity.
We have the opportunity to drive user-based growth. The way forward is not to build more infrastructure, rather it’s to support the industry with what we can do today using the institutional-grade platform for custody, brokerage, and lending.
I can’t undo the problems of the past. I can lead us today for a better tomorrow.
I often recite the following quote when considering the next steps forward.
Even if you’re on the right track, you’ll get run over if you just sit there.
- Will Rogers
Since the company first began, industry players have created many of the services and products set out in the original whitepaper. This plays well into the strategy as an API platform; which will continue to add marketable products as the cryptoasset market develops. To make an impact, Formosa Financial needs to have a customer-centric orientation and drive traction with what the company has thus far delivered..
The user-friendly, all-in one access is the value we bring; enabling both companies and individuals alike to benefit from the best the industry has to offer. As CEO, my initial focus will be outlining major changes to the company, which will focus centrally on the whitepaper, the roadmap, and the FMF token. The path forward will be outlined in a new State of Formosa post coming in October.
Sincerely,
Jeremy Firster
CEO, Formosa Financial
