Blythe Masters, the former head of global commodities at JPMorgan who was credited with creating the modern unregulated credit default swap in the 1990s, has found another lightly regulated arena in which to work: Bitcoin.
Masters will join Digital Asset Holdings LLC, a 2014 start-up with offices in New York, Chicago and Tel Aviv, as the chief executive officer. The company plans will build a software platform for professional investors to settle Bitcoin trades made on third-party sites. The goal of the wholesale settlement system is to reduce trading costs in a secure environment.
Digital Asset is backed by well-known market participants with a reputation for understanding market structure, exchange mechanics and swaps trading, including Don Wilson, founder...
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