Digital Asset-Focused Protego Trust Bank Names Ron Totaro As CEO
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Ron Totaro - Protego Trust CEO
Protego raised $70 million in a Series A in 2021 from investors, including Digital Currency Group and the cryptocurrency exchanges Coinbase (COIN) and FTX. Protego wanted to acquire further funds in a Series B round in May, valuing the company at $2 billion.
The OCC's previous acting controller, current Bitfury CEO Brian Brooks, and former Ally Financial CEO Michael Carpenter were all named to Protego's board of directors earlier this year. Protego Trust was given a conditional federal charter by the OCC in 2021, enabling Protego to hold digital assets in custody.
Protego Trust Bank N.A.
Protego Trust Bank N.A. (in formation) is a trust bank with specific institutional clients' needs in mind that the OCC has approved. Protego Trust is firmly convinced that the digital future of all assets is defining the next generation of financial services by offering regulated infrastructure, cutting-edge technology, and security measures that allow customers to participate in cryptocurrencies and digital assets securely. The United States granted Protego Trust a provisional federal charter in 2021. In addition to its Washington state charter, the Office of the Comptroller of the Currency. It intends to debut in 2022.