Alwyn Jones, the chief financial officer (CFO) of digital bank Monzo, is joining crypto exchange Luno Global.
- According to a report by Sifted, Jones is leaving Monzo after having joined it from Barclays in September 2018.
- Jones will become Luno CFO, that company told CoinDesk in an email.
- Jones becomes the latest digital banking executive to join the world of crypto, following Starling co-founder Julian Sawyer and former Monzo marketing manager Russell Smith. Sawyer left Starling to join Gemini before moving to Bitstamp as CEO in October, while Smith left Monzo to join BlockFi as vice president of user acquisition in February.
- Luno was acquired by Digital Currency Group, which is also the owner of CoinDesk, in September. It has over 6 million customers in more than 40 countries.
- Monzo, while one of the U.K.’s largest digital banks with over 5 million customers, has faced a challenging time during the coronavirus pandemic. Its founder, Tom Blomfield, departed earlier this year, citing pressure brought on by the pandemic.
- The bank reported losses of £113.8 (US$157 million) in July, having had to delay product launches and take a 40% discount on a £60 million funding round.