Former Mastercard Executive Joins CULedger Consortium as CEO

CULedger, a consortium of credit unions developing distributed ledger technology systems, has announced the appointment of a new CEO.

Dec 7, 2017 at 10:01 a.m. UTC
Updated Sep 13, 2021 at 7:14 a.m. UTC

CULedger, a consortium of credit unions developing distributed ledger technology (DLT) systems, has announced the appointment of a new chief executive officer.

The new hire, John Ainsworth, who was previously Mastercard's executive vice president of North America markets, will be joining the company as president and CEO effective Dec. 18, a company announcement states.

Ainsworth said in the statement that the majority of his financial services career has been involved with helping credit unions meet the needs of its members.

Predicting more change in the next 10 years than we've seen in the past 50 years, Ainsworth further stated:

"Staying relevant in the age of digital disruption is a current and present challenge for the credit union industry."

will give the credit union industry a competitive edge in the growing financial services sector, he continued, adding: "Credit unions will be able to implement the technology and utilize the current and future applications that run on it."

late last summer, CULedger is backed by over 50 U.S. credit unions that work together to utilize blockchain technology in a bid to improve the functioning of their industry.

Earlier this August, the consortium launched CUSO, a blockchain services business, owned by a group of federally chartered credit unions that offers payment card processing, business loans, among others.

Disclosure: CoinDesk is a subsidiary of Digital Currency Group, in which Mastercard is an investor. 

Chess piece image via Shutterstock

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
Sequoia's Guide to Surviving the 2022 Bear Market

Venture capitalists have gotten increasingly frantic over the last few months.

Venture capitalists have gotten increasingly frantic over the last few months.

CoinDesk - Unknown
2
CoinDesk - Unknown
NFT Art Museums Are a Good Idea

The metaverse turns galleries global, and helps fund the arts. This article is part of “Metaverse Week."

The metaverse turns galleries global, and helps fund the arts. This article is part of “Metaverse Week."

CoinDesk - Unknown
3
CoinDesk - Unknown
How the US Can Establish Itself as a Crypto Leader

Regulators have an opportunity to map out thoughtful, strategic policy on stablecoins and beyond.

Regulators have an opportunity to map out thoughtful, strategic policy on stablecoins and beyond.

CoinDesk - Unknown
4
CoinDesk - Unknown
No, the UK Is Not Going to Make USDC and USDT Legal Tender

For “legalize” read “regulate.”

For “legalize” read “regulate.”

CoinDesk - Unknown