Ishaq, whose background Circle CEO Jeremy Allaire describes as “noteworthy and highly relevant for Circle,” joins the company just a month after a $400 mln deal saw it buy major cryptocurrency exchange Poloniex.
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“Naeem joining Circle comes at a transformative time for our company considering the recent acquisition of Poloniex, our recently introduced app Circle Invest, and continued global expansion and growth for Circle Pay and Circle Trade,” Allaire continued.
Circle had previously adopted an increasingly hands-off approach to cryptocurrency, halting support for its wallet and exchange in December 2016.
The Poloniex acquisition appears to have kicked off a resurgence, Circle announcing the exchange’s presence will be bolstered via expansion into Asian markets.
The company’s new Circle Invest app, which offers exposure to crypto assets, itself went live in 46 US states earlier this month.
Ishaq’s previous experience is also notable, as his former employer, payment service Square, has also become increasingly bullish on cryptocurrency via a Bitcoin integration this year.
“At this pivotal stage, we are growing from a startup to leading global company, just as crypto goes from early adopter novelty into being foundational to the future of society and the economy,” Allaire added in subtle praise for cryptocurrency’s progress.