YF-DAI Hires Chief Operating Officer
The astonishing rise of DeFi has ignited a new and strengthened interest in decentralized services. While decentralized protocols and cryptocurrencies like Bitcoin have set the stage for a decentralized foundation, innovations like DeFi seek to expand on them. Decentralized Finance has grown exponentially to the tune of over $13 billion dollars, further proving its legitimacy. Part of what makes DeFi especially interesting is the fact that it can provide financial services and tools to virtually anyone with little more than an internet connection. If the $13 billion of locked value in DeFi protocol tells us anything it’s that DeFi is becoming a necessity for decentralization and cryptocurrency.
While the potential behind DeFi is massive, the space must be able to evolve and release protocols that are secure and sustainable to realize this potential. While there are exceptions, DeFi as a younger asset group is still largely made up of scams and unsustainable farming projects. Many of the most popular DeFi protocols lack the financial literacy and expertise to become a fruitful long term option that can remain sustainable. Fortunately for the DeFi space, YFDAI is looking to change that.
Today, Tapas Paul, Director of Tejster Technologies PTE. LTD., announces the engagement of Daniel Stone with the YF-DAI team to fill the role of Chief Operating Officer. YF-DAI is a decentralised finance (DeFi) initiative which rolled out earlier this year, offering secured DeFi services that are currently rolling out to the crypto investment and trading markets.
Daniel has more than 30 years of experience in the traditional financial services industry as an international banker and as a consultant specialising in Treasury Management, Financial Risk, Capital Markets, Derivatives, and Complex Investment Products across the asset classes. Daniel’s early career involved being a financial markets dealer in interest rate and currency derivatives. He’s held high executive positions with banks in Chicago, New York, London, Paris, and Singapore, including Barclays London and Standard Chartered Singapore.
As a consultant, based in Europe and then in Asia, he has provided knowledge-based services to various banks’ management, e-commerce initiatives, and IT projects. Recipients of his consulting services have included JP Morgan, WestLB, Bank Indonesia, Citibank, UBS, Credit Suisse, Morgan Stanley, Barclays, Société General, Deutsche Bank, Standard Chartered, RBS, MUFG, and various others. He has over the past decade also been an adjunct professor at two Singaporean universities, lecturing on a variety of topics in banking and financial markets.
Tapas added: “With YF-DAI’s SafeSwap and Launchpad soon to go live, bringing Daniel on-board at this key moment gives us a huge boost in technical expertise and managerial gravitas. Daniel avails YFDAI of his depth of experience regarding centralised financial business models and products, which we truly believe will be largely displaced or challenged by DeFi’s competitive offerings in the very near future. YFDAI intends to add products and services that will make for a complete set of reliable value-adding instruments and services available to the market. Daniel’s direction and daily management will contribute to the successful build-out and on-going evolution of this product and service suite.”
Stone commented: “I’ve always thrived in times of market transition, having worked in OTC derivatives during their infancy. Now I’m very keen to join the YF-DAI team, especially at this early phase of the DeFi markets. YF-DAI already offers a compelling product set, and has quickly established a loyal and visionary user community. There are many opportunities and initiatives to convert in order to build out a market-leading suite of offerings. The team and the YFDAI community, in a short time have demonstrated a devout commitment to making our offerings safe from scams and other risks to all of our clients, an underlying set of guiding values that will put YFDAI at the forefront of the DeFi market as it evolves.”
YFDAI understands that the sheer potential behind DeFi is still yet to be uncovered. For the DeFi space to enter the next frontier, it must evolve and further solidify itself as a secure, functional, and sustainable model of finance and decentralization. Stone’s mountainous oeuvre of expertise in traditional markets and finance provides YFDAI with an extremely valuable source on how to further increase its financial options and capabilities. YFDAI will harness this array of virtuosity into its protocol in a way that cannot be matched. Stone’s invaluable knowledge and experience will put YFDAI at the forefront of the DeFi revolution.
Welcome to the team Daniel!
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