BitGo, the cryptocurrency custodian, announced today that it has hired Peter (Pete) Najarian as the firm's Chief Revenue Officer. Najarian was formerly Senior Vice President of Institutions at Xapo, a bitcoin service provider.
“Pete has a deep understanding of capital markets and an exceptional breadth of experience in financial services. This makes him a perfect partner for institutional investors who are entering the cryptocurrency market,” said Mike Belshe, CEO of BitGo. “We’re building the financial infrastructure of the future and Pete’s experience in both traditional financial markets and cryptocurrency will be critical. I’m delighted to have him on my leadership team.”
As BitGo's new Chief Revenue Officer, Najarian will be responsible for driving the firm's global sales strategy and execution. He will report directly to Belshe.
Najarian's move comes after Coinbase announced the acquisition of Xapo's custody business for $55 million. Prior to the acquisition announcement, BitGo published a blog post stating that Xapo’s clients are “extremely concerned,” and that they don’t see Coinbase Custody as a “comparable service."