Bitcoin services provider NYDIG appoints New York Life chief executive to its board

New York Digital Investment Group (NYDIG), a bitcoin investment and services provider, announced the appointment of New York Life Insurance Company boss Theodore Mathas to its board of directors on Wednesday. 

Since 2006, Mathas has worked for New York Life Insurance Company, which covers over $700 billion worth of assets. He was named CEO in 2008 and chairman the following year. Mathas is also chairman of the American Council of Life Insurers.

NYDIG intends to leverage the life insurance CEO’s expertise to bolster the company’s bitcoin-based offerings for life insurance products and fintech services for clients, according to NYDIG’s press statement. 

"I am excited to be joining NYDIG's distinguished Board at such a pivotal time for the firm as the Bitcoin ecosystem continues to mature and expand,” Mathas said in the statement. 

His appointment follows Square Capital lead executive Jackie Reses' appointment to NYDIG's board. She joined in January.

The move comes several days after NYDIG announced that it raised $200 million in a growth capital round. New York Life was among those participating, along with Morgan Stanley and round leader Stone Ridge Holdings Group, NYDIG's parent company.