Visa’s global head of fintech and crypto, Terry Angelos, is leaving the financial services company to take over as CEO of mobile trading tech company DriveWealth, according to CNBC.
DriveWealth was founded in 2012 and is based in Jersey City. Angelos will take on the role starting next week.
“If you were to think about the single, most reliable long-term asset that people around the world want to own, it’s equity in U.S. companies,” Angelos told CNBC. “Traditionally, people outside the U.S. don’t have the ability to open up a brokerage account. That’s something that we think we can help solve.”
DriveWealth, while focusing on stocks, also offers crypto investing.
Angelos spent seven years at Visa, starting as VP of Visa Commerce in 2015, according to his LinkedIn. Prior to that, he was the founder and CEO at TrialPay, which was acquired by Visa in 2015.
DriveWealth last raised a Series D in 2021, and was valued at $2.8 billion, with backing from Softbank, Fidelity’s venture arm, Citi Ventures, and others. While an IPO is not out of the question, said Angelos, he’s focusing more on increasing DriveWealth’s footprint in the near term.
Two months ago, Daniel Mottice, who was at Visa for five and a half years as product lead of crypto, left the company to launch his own Web3 venture.