Terry Angelos, Visa’s global head of fintech and crypto, is leaving the financial services firm to become the CEO of mobile trading technology firm DriveWealth, according to CNBC.
DriveWealth is situated in Jersey City and was formed in 2012. Terry Angelos will be the company’s CEO starting next week.
Angelos told CNBC the following:
“Equity in United States corporations is the single most reliable long-term asset that individuals all over the world want to acquire. People from outside the United States have traditionally been unable to open a brokerage account. That is something we believe we can assist with.”
While DriveWealth focuses on stocks, it also offers cryptocurrency investing. According to his LinkedIn, Angelos worked for Visa for seven years, starting as VP of Visa Commerce in 2015. He was previously the creator and CEO of TrialPay, which was purchased by Visa in 2015.
With financing from Softbank, Fidelity’s venture arm, Citi Ventures, and others, DriveWealth last secured a Series D in 2021, valued at $2.8 billion. While an IPO isn’t ruled out, Angelos is more concerned with expanding DriveWealth’s footprint in the immediate term.
Daniel Mottice, the product lead for crypto at Visa for five and a half years, quit the firm two months ago to start his own Web3 company.
Read more: Ethereum executes 4.5 times more transactions than Visa Payments in 2021
