Ex-Crypto Executive of Fidelity Joins Blockchain Startup Bloq

Hadley Stern is the first chief operating officer of the Chicago-based distributed ledger technology firm.

US blockchain software company Bloq said on Tuesday that it had appointed Hadley Stern, a former founder of the Digital Asset Division at Fidelity, as its first chief operating officer (COO). The move comes in a time when Fidelity, one of the leading global financial service providers, deepens its involvement into the cryptocurrency market.

Stern worked for seventeen years at Fidelity. Firstly, the new Bloq COO was responsible for interactive creative solutions at the Boston office of the multinational financial giant. After that Stern was part of Fidelity Lab as vice president and head of blockchain incubator structure with a focus on merging distributed ledger technology (DLT) solutions with Fidelity’s main business and creating new products and services that use blockchain. In June 2016, Stern founded the company’s Digital Asset Division where he worked until the beginning of this month.

“Led build of team including creating legal entity, building up development, product, design, operations, compliance and operations team to launch Fidelity into Digital Assets business,” Stern writes in his LinkedIn account.

In 2016, Stern was a member of several teams that created various Fidelity patents including one USPTO application for the blockchain-based voting system.

DLT experience was a key factor for Bloq’s decision to hire Stern as the main manager of its daily operations. Launched in 2016, The Chicago-based startup offers multi-network, multi-chain and multi-token blockchain products, and hopes Stern will help the expansion of company’s business.

“As the shared surface area between conventional enterprises and the world of cryptocurrency expands, there is absolutely no better partner than Hadley for this role as we pursue continued, rapid growth in our business,” Matthew Roszak, co-founder and chairman of Bloq, explained in the company’s press release.

Stern’s departure from Fidelity is a significant move as just last week the US financial giant announced its highly-anticipated cryptocurrency products, which target institutional investors such as hedge funds.

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