Crypto Wallet Provider Blockchain Hires Former U.S. Secret Service Director

Omar Faridi
  • Blockchain Ltd. appointed former U.S. Secret Service deputy assistant director George Sax as head of global security.
  • Sax was previously in charge of securing the United States’ “financial infrastructure.”

George Sax, former Deputy Assistant Director of the U.S. Secret Service, was recently appointed global head of security at UK-based crypto firm Blockchain Ltd. The U.S. Secret Service operates within the Department of Homeland Security, a governmental body focused on combating terrorism.

Before joining Blockchain, Sax managed the Secret Service’s Investigations department and was in charge of security during the U.S. presidential elections in 2016. Blockchain reportedly chose the security executive because of crypto users’ increasing concerns about digital asset exchanges still being vulnerable to hackers.

Developing Blockchain’s “Security Philosophy”

Notably, Sax has over 25 years of experience working as a security expert and his duties have included ensuring the safety of U.S. citizens. The team at Blockchain noted that Sax recently led a global team of more than 2,000 investigators in uncovering financial crimes orchestrated over the internet.

Sax had also been tasked with securing the United States’ “financial infrastructure”, which involved implementing “comprehensive” cybersecurity measures. Now, as global head of security at Blockchain, the specialist will further develop the crypto wallet provider’s “security philosophy” by “focusing on operations, infrastructure, and product security.”

He will also draw on his extensive experience in “physical and personal security” to help Blockchain Ltd. create a more secure and trusted platform for its users. Peter Smith, Blockchain’s CEO and co-founder, stated:

George is a recognized security leader with decades of valuable experience protecting the most important people, infrastructure and systems in the United States. We are proud to welcome him to Blockchain and for him to lead our security efforts as we continue to make crypto safe and easy to use for everyone.

Peter Smith

Managing Security At “High-Risk Events”

During his career, Sax has been in charge of the “executive protection” of several American Presidents, including the security and safety of their families. Additionally, he has managed the security of “high-risk events” such as the U.S. presidential inauguration in 2017.

Currently, Blockchain Ltd offers support for over 26 million cryptocurrency wallets belonging to users in 140 different countries. By using the popular wallet, users can buy, sell, and store cryptocurrencies like Bitcoin (BTC), Bitcoin Cash (BCH), and Ethereum (ETH).

The team at Blockchain noted the company now has more clients than established American brokerage firms like Charles Schwab. Sax’s recent appointment as head of security appears to be part of the company’s ongoing efforts to expand its operations. The firm recently launched Blockchain Principal Strategies (BPS), a product for institutional investors.

Blockchain Wallet Integrates BitPay Support for User-Friendly Transactions

  • Blockchain Wallet announces the integration of BitPay into their existing service. 
  • Emphasis on allowing for "user-friendly" transactions and payments. 

Popular cryptocurrency firm Blockchain.com, which operates the Blockchjain wallet, has announced integration of payment processor BitPay

Blockchain Wallet Adds BitPay Support

In an update, Blockchain Wallet confirmed its new partnership with BitPay, which will allow for the direct spending of user bitcoin in an effort to increase the ease of crypto-based payments.

The press release states that BitPay has been “seamlessly” integrated into the existing Blockchain Wallet framework, which clients can use to make payments directly from their application. 

According to the announcement,

As the largest global crypto payments provider, BitPay and has processed more than $2.8 billion from merchants and B2B customers since 2011.

The press release continues, 

We’re excited to see this new addition connect our Wallet users to the world of merchants that accept Bitcoin (and soon other cryptos) as a payment method — one of the key ways to interact with and grow the digital asset ecosystem.

The emphasis on payments shows the direction that Blockchain Wallet imagines for the future of crypto. While the platform has created a secure cryptocurrency wallet for users to retain simultaneous control over their funds and private keys, user-friendly transactions and spending has continued to be a work in progress. 

BitPay has emerged as one of the more successful payment platforms in crypto, with a focus on establishing a relationship with merchants to accept bitcoin. The partnership with Blockchain Wallet, with its reported 41 million userbase, could go a long way in spurring greater use for bitcoin outside of a store of value asset or token for price speculation.