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Scott Ward succeeds longtime chief executive Gary Williams, who retired at the end of January.
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The process is expected to begin this summer and extend into late 2023, ultimately saving the Iowa company about $20 million annually.
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The tech company’s platform will let digital currency holders borrow against their digital assets and have the loan proceeds placed in a bank account.
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The increase was driven by small businesses including property managers, contractors and beauty salons.
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The White House's pick for vice chair for supervision, Sarah Bloom Raskin, took the brunt of criticism from Republicans on Thursday. But it seemed to do little to sow doubt among the Senate Banking Committee's moderate Democrats about Raskin or fellow nominees Lisa Cook and Philip Jefferson.
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Recognizing that many of the region's consumers are choosing startups, companies like Citigroup, JPMorgan Chase, Goldman Sachs, Santander and Scotiabank are taking stakes in nascent payment providers.
