OwlTing Group, a blockchain technology company, announces that Meyer Sandy Frucher, a former Vice-Chairman of Nasdaq, has joined the company’s board of directors. OwlTing’s success in its home market in Taiwan has proven the company has a compelling value proposition that is ready for international competition. Mr. Frucher’s appointment comes as the firm focuses on scaling globally.
Mr. Frucher’s service with Nasdaq began in 2008 when, as CEO of the Philadelphia Stock Exchange (PHLX), he negotiated it’s acquisition by Nasdaq. Continuing on as Vice-Chairman of Nasdaq, he led Nasdaq’s relationships with international exchanges, representing Nasdaq on the board of directors of the World Federation of Exchanges. He continues to represent Nasdaq on the board of the Options Clearing Corporation (OCC), where he is the longest-serving board director.
“Stock Exchanges have enabled capital formation and job growth in the most developed countries, but far too many companies in the developing world have been left behind, unable to absorb the enormous costs of public listing or Environmental, Social and Governance reporting capabilities, and in some cases, simple payment systems. OwlTing’s affordable blockchain solutions are game-changing for growing companies around the world. I’m excited to support the management team’s global ambitions,” Mr. Frucher stated.
“Blockchain are systems of automated trust. This industry is in its infancy. Consumers and regulators alike are changing their expectations. Consumers want proof that their goods did not exploit vulnerable people and investors want proof that their portfolio companies are reducing their carbon emissions. Shortages and trade disruptions are causing companies to reconsider their supply chains and whether automation via smart contracts can improve their bottom line. Distributed ledgers and blockchain have transformative potential for a world with new expectations,” said Mr. Frucher.
OwlTing provides easy access to blockchain solutions for industries such as finance, hospitality, agriculture, logistics and mobility that share needs for cost-effective resilience and transparency in the digital era.
OwlTing’s strategic partners include SBI Holdings, the leading Japanese financial technology company, which placed a significant investment in OwlTing in 2018.
“SBI Group has been deeply engaged in the blockchain, fintech and asset management space,” stated Yoshitaka Kitao, CEO of SBI Holdings. “Investor demand in the blockchain sector has remained strong, and this reflects the growth potential and investment opportunities in the digital economy. OwlTing has been at the forefront of revolutionizing the blockchain landscape. I look forward to having Sandy on board and believe that his unparalleled experience will accelerate the company’s growth and expedite the development and delivery of various blockchain innovations around the world.”
Darren Wang, Founder and CEO of OwlTing said, “It is our pleasure to welcome Sandy to the OwlTing Group. Sandy’s embrace of technology at PHLX was visionary, and his leadership at Nasdaq and in the global exchange community guided the transformation of capital markets in the internet era. We are very early in the blockchain era, only recently moving from predictions and ‘hype’ to applications in production. Sandy’s experience in transforming capital markets and his global relationships will guide our growth strategy and add to our momentum.”