NEW YORK (Reuters) - Digital Asset Holdings LLC, a New York-based startup focused on blockchain technology in the financial services industry, said on Tuesday that Sallie Krawcheck, former head of Bank of America (N:BAC) Wealth Management, has joined the company's board.
Krawcheck also served as the chief financial officer of Citigroup (N:C). Currently, Krawcheck is the CEO and co-founder of Ellevest, a digital investment platform for women to be launched this year, according to statement from Digital Asset.
Blockchain, the underlying technology behind bitcoin, is a digital tool for recording and verifying transactions. The technology makes it easier to create cost-efficient business networks without requiring central control.
Earlier this year, Digital Asset completed a fund-raising campaign in excess of $60 million from a range of strategic investors including Goldman Sachs (N:GS) and IBM (N:IBM). As part of the round, Digital Asset announced that it was expanding its board of directors.