BitGo Appoints Former Silvergate President Ben Reynolds to Lead USD Standard Stablecoin

PALO ALTO, Calif.--(BUSINESS WIRE)--BitGo today announced the appointment of Ben Reynolds as Managing Director and Head of USD Standard. In this role, Ben will oversee the growth of BitGo’s USD Standard stablecoin and lead efforts to drive global adoption.

Ben is a seasoned finance executive with over 25 years of experience in fintech, software, banking, and asset management. Most recently, Ben served as President of Silvergate Bank, where he oversaw company-wide revenue growth and as a member of the executive team that scaled Silvergate to a public company (SI) in 2019. He joined Silvergate in 2016 as SVP of Business Development and was the bank’s first dedicated employee serving the digital assets division. In this role, he led the creation and launch of Silvergate Exchange Network (SEN), a real-time payments platform that significantly enhanced the efficiency of transactions within the digital asset ecosystem. SEN facilitated over $2 trillion in payments and was one of the bank’s core products.

Ben will leverage his extensive experience in growing and scaling best-in-class payment platforms to lead the expansion of USD Standard. USD Standard will be an open-participation stablecoin featuring a reward system that deploys earnings to participants who support the ecosystem. By deploying rewards across the network, USD Standard encourages widespread adoption and deep liquidity, creating a more robust and resilient stablecoin ecosystem.

Mike Belshe, CEO of BitGo, said, “We are excited to welcome Ben to BitGo during this pivotal period of growth for the company. Ben’s outstanding track record of developing and scaling transformative digital asset payment infrastructure and deep understanding of stablecoins will be a significant asset to us, particularly as we expand the USD Standard network. This is another example of our commitment to attracting top-tier talent who understands how to bridge traditional finance with digital assets.”

Ben added, “Joining BitGo is an incredible opportunity. They've consistently led the way in digital asset infrastructure for over a decade, setting the standard for security and operational excellence. Their suite of services is impressive and spans custody, staking, and trading. The Go Network is also a game-changer, and with USD Standard, we have the chance to redefine what a stablecoin can be. This is about creating a more accessible and resilient financial system for everyone.”

Prior to joining Silvergate in 2016, Ben spent eight years as an entrepreneur, building successful retail and technology companies from inception to exit. Earlier in his career, he was Vice President of Product at HSBC after spending four years in the audit practice at KPMG. Ben earned a B.S. in Accounting from San Diego State University and his MBA from Pepperdine University. He is a licensed CPA.

About BitGo

BitGo is the leading infrastructure provider of digital asset solutions, offering custody, wallets, staking, trading, financing, and settlement out of regulated cold storage. Founded in 2013, BitGo is the first digital asset company to focus exclusively on serving institutional clients. BitGo is dedicated to advancing a digital financial services economy that is borderless and accessible 24/7. With multiple Trust companies around the world, BitGo is the preferred security and operational backbone for more than 1,500 institutional clients in 50 countries, including many of the world’s top brands, cryptocurrency exchanges, and platforms. BitGo also secures approximately 20% of all on-chain Bitcoin transactions by value and is the largest independent digital asset custodian. For more information, please visit www.bitgo.com.

For more information on USD Standard, visit USDStandard.com.