Cryptocurrency custodian BitGo has announced the addition of Xapo's Pete Najarian to its executive team.

Joining as the chief revenue officer, Najarian is tasked with global sales strategy. Najarian was senior vice president of institutions at bitcoin service provider Xapo before joining BitGo. Coinbase Custody announced its acquisition of Xapo's institutional business last week.

Speaking on the latest hiring, BitGo CEO Mike Belshe said Najaraian's history in both the legacy and cryptocurrency markets made him a natural fit for the position:

“Pete has a deep understanding of capital markets and an exceptional breadth of experience in financial services. This makes him a perfect partner for institutional investors who are entering the cryptocurrency market . . . Pete’s experience in both traditional financial markets and cryptocurrency will be critical."

Najarian said the cryptocurrency market is gaining interest from traditional finance. “In my conversations with institutional investors, it’s clear that interest in cryptocurrency continues to grow, and that there is a real and significant opportunity," Najarian said.

Image of Mike Belshe via CoinDesk archives