The Head Of Fintech At The Bank Of England Has Quit To Join Fireblocks

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Varun Paul Will Join Fireblocks

Varun Paul, the Bank of England’s head of the fintech centre, has announced that he is leaving to take up a position at Fireblocks (A Crypto and Digital Asset Platform for Institutions), bringing his almost 14-year tenure at the UK central bank to a close.

Even while it is not yet apparent what position Paul would play at the custodial platform, a source familiar with the situation told The Block that he is expected to join the company’s corporate strategy team.

According to a LinkedIn post published on Wednesday, “16 years after beginning my first internship and more than 13 years after commencing as a graduate, today I’ve parted company with the Bank of England.”

Paul’s time at the bank has spanned a period of substantial transformation. According to his LinkedIn page, he spent almost two and a half years managing a study on the future of the financial system, beginning in September of that year. In February 2021, he was appointed as the director of the fintech center.

According to the hiring decision, there is a rising trend of individuals previously employed by public institutions, such as central bankers, legislators, and regulators, transitioning to in-house positions at crypto and fintech companies in the United Kingdom.

As managing director for the United Kingdom and Ireland, Bitpanda, an Austrian cryptocurrency exchange, recruited Matthias Bauer-Langgartner, a former Financial Conduct Authority employee, last year. Chris Kiew-Smith, Zodia’s chief compliance officer, formerly worked for the Financial Conduct Authority. Additionally, former UK chancellor Philip Hammond joined Copper as a senior adviser last year, joining the company from the government of the United Kingdom.