Fintech investor Nyca Partners snaps up former regulator to focus on crypto

July 9 (Reuters) – Matt Homer, who previously led the New York Division of Monetary Companies’s innovation division, has joined Nyca Companions, the enterprise capital agency based by ex-Visa President Hans Morris, the corporate mentioned.

Homer has been appointed Nyca’s first govt in residence, and can assist the funding agency develop its cryptocurrency technique.

Nyca is among the most well-known enterprise capital corporations targeted on fintech and has a backed a variety of established corporations together with Acorns, Affirm Holdings Inc (AFRM.O) and Revolut.

“We’re past a tipping level with cryptocurrencies, there are a whole bunch of hundreds of engineers specializing in cryptocurrency functions,” Morris, Nyca’s managing companion, mentioned in an interview. He added that the agency would look to put money into startups constructing functions wanted to help mainstream adoption of cryptocurrencies.

Homer based and led NYDFS’s innovation division, a division which spearheads the watchdog’s efforts on fintech, insurtech and cryptocurrencies and goals to make New York a lovely hub for digital monetary companies corporations.

His time at NYDFS coincided with a growth in cryptocurrency markets, and a rise in additional mainstream monetary companies agency getting into the sector.

“It is fairly clear to me that the crypto economic system is right here to remain however the services and products that may final the take a look at of time are these that may combine and improve conventional finance,” Homer mentioned in an interview.

Previous to becoming a member of NYDFS Homer was head of coverage and analysis at startup Quovo, labored on the Federal Deposit Insurance coverage Company and launched two innovation facilities at USAID.

Reporting by Anna Irrera; Enhancing by Andrea Ricci

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