Protego Trust Bank, a proposed federally chartered trust bank that would serve the digital asset needs of institutional investors, has hired a new CEO.
Organizers of the planned Seattle trust bank said in a press release Monday that Ron Totaro has accepted the post. He previously served as CEO of Tassat Group.
Totaro “brings a solid understanding of digital asset and blockchain technology as well as strong relationships with banking and private equity leaders,” Greg Gilman, CEO of Protego Holdings, said in the release.
“I am looking forward to working with him to finalize the OCC approval process and launch our much-needed bank platform for institutional investors to securely custody, trade, lend and issue digital assets including cryptocurrencies,” Gilman added.
Totaro has served as chief operating officer at ACI Worldwide and held leadership positions at FICO, GE Capital and American Express.
Protego Trust, which plans to open later this year received a conditional federal charter in 2021 year from the Office of the Comptroller of the Currency. It also has a Washington state charter.