NEW YORK, July 15, 2022 - (ACN Newswire) - Prontoblock, today announced the appointment of Kelley Millet as the company's Chief Financial Officer and Board Member, effective July 15, 2022. Mr. Millet brings more than 20 years' experience in driving growth, and has a proven track record building and scaling high performance teams. He has served - as Managing Director and Global Head of Debt Capital Markets with JPMorgan, President and Member of the Board of Directors of Market Axess, and President of Millennium Advisors.
Mr. Millet's extensive experience in capital markets and the fintech sector will accelerate Prontoblock's traction as a bridge to DeFi serving banks and other financial institutions across the tokenization of fixed income assets, commodities and collateral. He was a leader in the first wave of innovation in the electronic trading of fixed income instruments, taking them from telephone to electronic and straight through processing. With the current repricing and disruption in the equity, fixed income and cryptocurrency markets, Mr. Millet sees an even larger opportunity in migrating these markets - especially the $52 trillion fixed income market - to a Web3 infrastructure.
Mr. Millet's experience will ensure that Prontoblock solutions accurately address, digitize and make more efficient existing trading activity in fixed income markets. Prontoblock solutions effectively address the inefficiencies that persist when issuing and trading those securities.
Prontoblock's vision is to serve both the institutional and retail sectors participating in financial markets. In addition to his experience overseeing internal financial functions, Mr. Millet brings experience across both the executive and board levels to the role.
Currently, enabled by Web3 infrastructure, the fixed income assets tokenized by Prontoblock's platform facilitate greater market access by means of increased efficiency via the blockchain and fractionalized ownership - in the process increasing liquidity and decreasing the cost of capital. The ticket size of such transactions and the associated costs in brokering them make them unavailable to many potential investors. If tokenized as digital assets, either as utility tokens or NFTs, the fixed income market could be opened up to many more investors, and in the process deepening liquidity.
Prontoblock provides innovative solutions to financial intermediaries, and ultimately everyday people. Our products open up both traditional and digital asset markets and streamline investment instrument operations using DeFi protocols. The Prontoblock platform tokenizes, hosts and maintains securities issued by clients. It powers a smart-contract solution that fully automates due diligence, establishes reliable records of current stakeholders and compliance, and significantly improves efficiency by reducing administrative friction.