PANews reported on November 2 that according to Businesswire, crypto custodian BitGo announced that it has hired former Silvergate Bank president Ben Reynolds as managing director and head of dollar standard, who will be responsible for overseeing the development of the dollar standard stablecoin USDS that BitGo will launch next year.

It is reported that Ben Reynolds has more than 25 years of experience in fintech, software, banking and asset management. He previously served as president of Silvergate Bank, overseeing company-wide revenue growth and as a member of the executive team that expanded Silvergate into a public company in 2019.