Digital Prime Technologies appoints Tabacchi to board
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Digital Prime Technologies appoints Tabacchi to board 17 November 2023US Reporter: Carmella Haswell
Image: Digital_Prime_Technologies
New Jersey-based provider of digital asset technology solutions, Digital Prime Technologies, has appointed James Tabacchi to its board of directors.
As the current president and CEO of South Street Securities Holdings, Tabacchi brings extensive experience in strategic leadership to the position that, the firm believes, will be instrumental in driving further growth.
His guidance and insights will be vital to Digital Prime Technologies, the firm says, as it plans to enhance its offering and navigate the complexities of the financial technology landscape.
The announcement follows the recent launch of the firm’s institutional digital asset lending platform, Tokenet.
Tokenet aims to create a “reliable ecosystem for users to interact with trusted counterparties”, allowing firms to post borrow needs and lending availability, manage collateral, as well as access a full reporting suite through an enterprise-grade system.
At the time of the launch, Digital Prime Technologies co-founder and CEO James Runnels said the move was “an important and exciting step towards establishing trust and transparency in digital asset lending” and that the platform “redefines digital asset lending and embraces the regulatory safeguards of traditional finance”.
SFT spoke to the firm’s head of lending solutions Courtney Campbell in Issue 322 about spearheading the firm’s new digital asset lending platform.
Tabacchi joins the firm’s board with more than 20 years of experience at New York-based broker-dealer South Street Securities and its technology firm Matrix Applications — which he co-founded alongside a number of predecessor companies. He currently serves as CEO.
Prior to this, he spent more than two decades at Citibank (formerly Citicorp) where he worked in various customer interface and business head positions within the investment, corporate and consumer banking divisions.
Commenting on the appointment, Runnels says: “We are confident that the addition of Jim and his guidance will help further our agenda to deliver digital asset prime brokerage, borrow, lend and execution solutions with best practices being top of mind.”
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