Dante Disparte, the former vice chair of the Facebook-initiated Diem Association, has joined payments startup Circle as its new chief strategy officer and head of global policy.
It's unclear when Disparte, who was a part of the diem stablecoin project since its origin in June 2019 (when it was referred to as libra) left the initiative, but his LinkedIn profile said he joined Circle in April 2021. Circle CEO Jeremy Allaire announced the hire on Monday in a blog post.
"The standards that we’ve helped bring into the world are taking on a new life, as dollar stablecoins become one of the most critical new infrastructures of the internet and commerce. This technical innovation converges with heightened regulatory and policy maker focus," Allaire wrote.
Disparte is only the latest high-profile Diem executive to leave the project, which has faced strong regulatory headwinds since it was first announced. Morgan Beller, one of the Facebook employees who spearheaded Libra, joined venture capital firm NFX in September. Disparte was hired in June 2019 as one of the very first Libra Association staffers.
Meanwhile, David Marcus, the Facebook executive running its Novi wallet subsidiary, was placed in charge of the social media giant's new "Facebook Financial" wing, which has been tasked with integrating payments into its different messaging applications.
Allaire said in Monday's blog post that Disparte would be part of Circle's global expansion effort.
In an opinion piece submitted to the Diplomatic Courier, Disparte wrote:
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.