Circle Hires Dante Disparte, Ex-Vice President At Facebook’s Diem

Circle hires Dante Disparte, the previous Vice President of Facebook’s Diem crypto project. He will now work as the chief strategy officer at the company so let’s find out more in our crypto news below.

Crypto payments company Circle hires Dante Disparte who will now work as the company’s CSO and is the latest high-profile staff member to abandon Facebook’s Diem. The well-known crypto payments company announced that it has snapped the former VP of Diem who led policy and communications efforts for Facebook’s crypto aspirations but will now serve as the CSO of Circle and head of global policy. Disparte also runs its own strategic risks insurance and advisory brokerage company named Risk Cooperative. Co-founder of Circle Jeremy Allaire said on the new hire:

“Dante brings decades of experience working on complex global financial and risk issues, and most recently served as executive vice president at Diem Association, spearheading engagement and communications with government and financial industry leaders around the world on the issues and opportunities presented by stablecoins and digital currency.”

1/4 Please join me in welcoming Dante Disparte (@ddisparte) to Circle’s leadership as Chief Strategy Officer and Head of Global Policy! Dante is a real rock start on global policy issues around digital currency; excited to partner – https://t.co/wdI8NLRVzH

— Jeremy Allaire (@jerallaire) April 12, 2021

Circle is a peer-to-peer payments company behind the USDC cryptocurrency which is now the 14^th biggest by market cap. The company works to help online businesses adopt stablecoins and make payments on one platform. USDC was launched by circle and Coinbase and it is a stablecoin that has a 1:1 value ratio to the US dollar.

Disparte said that he joined Circle because “where the markets or public policy is falling short—by making the financial system more inclusive, more participatory, reducing friction and cost—Circle is showing that through technology and through the momentum behind USDC.” Disparte played a very public role in rebranding the Diem project from its previous name Libra. The Diem Association is a stablecoin project that is led by Facebook with a  goal to make access to money and other financial services easier.

The project however ran into plenty of obstacles. Facebook faced regulatory hurdles, the staff left, other major partners also left. When the project assembled the Silicon Valley association, big companies like MasterCard, Stripe, and PayPal were involved and most of them left because of regulatory uncertainties and threats to the worldwide financial stability.