Cardano Foundation Adds SBI Digital Asset Holding’s CEO to BOD

The Cardano Foundation today announced the onboarding of Fernando Luis Vázquez Cao to its Board of Directors. The Foundation aims to make the most of his immense experience and knowledge of the Asian financial service sector.

From SBI to Cardano

Even though Fernando is a part of the Cardano Foundation he continues to serve his role in his current position. Thanks to the Foundation being a non-profit organization, Fernando did not drop his responsibilities as the Chief Executive Officer of SBI Digital Asset Holdings.

Fernando has been a long-time open-source developer and advocate with experience in the industry from all around the world.

1He began his career in Spain at the Universidade de Vigo from where he moved to Japan where he served as the Technical Director at NTT.

Thereon he worked multiple roles within the SBI’s multiple divisions leading to his current position of CEO at SBI’s digital asset holdings branch. 

Upon his addition the CEO of the Cardano Foundation, Frederik Gregaard stated:

“The board plays an integral role in providing guidance and oversight for the Cardano Foundation. Fernando has a distinguished track record in business and software development and his expertise adds another layer to our prestigious board. He played a crucial role in building a high performance team at NTT that contributed to many open-source projects and he will be an invaluable asset to us as we continue to advance our efforts and scale our operations.”

Currently, the Foundation is working towards “de-risking decentralization” for the regulators and organizations ensuring opportunities for those who aim at bringing positive global impact.

In regard to his announcement, Frederick said:

“It is an absolute honor to join the Cardano Foundation at this important moment in its development. The growth of the community, the strength of its people, and the vision of the Cardano project are inspiring. I’m truly looking forward to working with my board colleagues and the Foundation’s executive team to help further its mission.”

Cardano at the Moment

The once third-biggest cryptocurrency in the world witnessed a shocking downfall after the release of its highly awaited smart contracts.

The lukewarm response from the investors continued to drag its price action down and currently, ADA sits 65.59% below its once all-time high of $2.967.