CBA CFO Rob Jesudason has left the bank to join Block.one, the company behind EOS coin which has recently enjoyed an increase in market capitalization.

Rob Jesudason, Commonwealth Bank CFO, has resigned to join the company behind EOS, the fifth largest digital currency. Jesudason would reportedly assume the role of group president and chief operating officer of Block.one, seller of the EOS token and publisher of blockchain software called EOSIO.

“Blockchain will have a transformative impact on most industries in the coming years and will redefine operating models by streamlining businesses, while also reducing cost and risk,” Jesudason commented. “Block.one’s technological innovation enables fast, low-cost, and scalable blockchain performance and is laying the groundwork for mass adoption of these new technologies.”

Jesudason has been at CBA for more than six years. He previously worked for a host of large finance companies including IFS, Credit Suisse, JPMorgan, Barclays, GE Capital and McKinsey.

According to Commonwealth Bank, Jesudason had resigned “to pursue an external role in Hong Kong” and would be “leaving with immediate effect”. For the role of new acting CFO Alan Docherty has been chosen. Docherty joined the bank in 2003 and has been the chief financial officer for CBA’s Institutional Banking and Markets business.

As for Block.one, the company is happy to take Rob Jesudason on board. “Rob has a proven track record of success in global financial services, where he has been involved in industry innovation and facilitated regulatory advancement enabling the adoption of new technologies,” Block.one CEO Brendan Blumer said. “His alignment with our organizational priorities of creating compliant, high performance blockchain solutions, is an ideal fit for Block.one,     and is an exciting conclusion to our thorough search for the right individual.”

Block. one is a leading developer of technology solutions including blockchain software. With employees and advisors based around the world, the company focuses on business-grade technology solutions, including the development of the EOSIO software.

Developed by Block.one cryptocurrency EOS has seen solid performance in recent months. According to Block.one, the company has raised about US$700 million in the initial coin offering (ICO) of the EOS token. During the past few weeks, the coin has been sky-rocketing. It managed to take over Litecoin’s long-held spot as the fifth-best currency on the global coin ranking list. Thanks to the increase of its market capitalization, EOS was able to climb up to becoming one of the top 5 coins on the global level. The current price of EOS is $14,15, according to CoinMarketCap.

What is more, EOS coin has sparked interest of Infinito Wallet, a fintech startup part of R&D company Infinity Blockchain Labs. The company announced it would integrate the EOS native blockchain to support the EOS coin, allowing its holders store all their coins in one place.

The EOS cryptocurrency is currently operated as an Ethereum-standard “ERC20” token on the Ethereum blockchain, but its blockchain will be launched in June. It is expected to scale millions of transactions per second, get rid of the user fees and enable operation of dAPPS.

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