Latest Karen J. Wendel News

<p><strong>London, UK— October 8, 2020</strong>— The Bayesian Group, the parent company behind Fabriik Qualified Custody, is upping the stakes in the race to deliver on the promise of frictionless financial management. Today they announced their plans to build a blockchain-centric qualified custodian, with Karen J. Wendel as Chief Executive Officer.   Wendel will lead the deployment of Fabriik Qualified Custody, offering multi-asset regulated custody services for institutions and retail clients.   Fabriik Qualified Custody will operate as part of Fabriik, a global digital asset fintech initiative consisting of a collection of strategically aligned businesses across the liquidity ecosystem.</p>
<p>Wendel is an experienced executive who led the regulated bank-created identity syndicate IdenTrust for more than a decade, Wendel also held CEO and Partner roles in venture-backed and global consulting firms where she drove strategic, operational reengineering, and innovation projects for large global entities including Bank of America and ABN AMRO.  Her most recent projects have focused on what she refers to as the “liquidity ecosystem”, i.e. the use of technologies such as distributed ledgers and qualified custody to transform illiquid assets, whether traditional or alternatives, into fungible, highly liquid structures.</p>
<p>“The Bayesian Group is pioneering a transformational approach that allows everyone to unlock their financial power.  I am thrilled to have the opportunity to participate in the charting of that new roadmap,” says Wendel.</p>
<p>“Custody is a critical piece of the Fabriik ecosystem, however, our needs are quite unique as we embark on a mission to build a seamless marketplace. With Karen we not only found a brilliant mind who’s experience in custody and finance was unrivaled, but her understanding of the convergence of traditional, physical, and digital assets is light years ahead of the pack. It’s a pleasure and honour to be working with Karen to build the next generation of qualified custody,” says Roy Bernhard, CEO of The Bayesian Group.</p>
<p>With over 30 years of senior-level business experience in key executive and board positions, Wendel is a veteran of the global banking industry, focused on payments, currency regulation, trust/custody structures, cybersecurity, and identity.  In that context, she has a track record of building and restructuring businesses, resulting in dramatic improvements for shareholders and clients. </p>
<p>She was previously the President and CEO of TrustChains, a boutique consulting firm that provides support to the PE and VC communities.  She serves on the board of a publicly-traded company, and in consulting and advisory capacities with multiple private companies.</p>
<p>An author on financial management, payments, and supply chain integration, an advisor to U.S. Government agencies and the European Union on emerging technologies for payments and transaction processing, and a keynote speaker at major banking and technology conferences,  Wendel brings thought leadership and passion to the Bayesian Group.</p>
<p>Wendel’s education includes degrees earned in International Relations and Economics from Brigham Young University, Provo, Utah, followed by multiple professional accreditations in treasury management and security.</p>
<p><a href=The Bayesian Group is the parent company of Fabriik, a collective of companies operating in the Fintech and Digital Asset Investment market.  Bayesian Labs creates software, market research and trading algorithms. Built on top of that technology and research are financial services such as Market Making, Liquidity Provision and an OTC desk delivered by Fabriik Markets. The Fund (a segregated portfolio) is an alpha-generating AI-powered hedge fund that leverages proprietary algorithms to provide outsized returns to its institutional investors.  Fabriik Qualified Custody provides qualified custodial services that allow people to grow, transform, leverage and hold real and digital world assets. The Bayesian Group is dedicated to furthering the probability of positive change by transforming the fabric of global systems starting with finance to show the world the power of Digital Assets within a regulated, private, secure global economy.

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Press Releases 8 October 2020

Banking and cybersecurity veteran Karen J Wendel joins digital asset sector with The Bayesian Group

The Bayesian Group, the parent company behind Fabriik Qualified Custody, is upping the stakes in the race to deliver on the promise of frictionless financial management.

<p>The emergence of institutional investors into the digital currency industry has brought with it the need for world-class custody and security solutions. During <a href=Day 1 of CoinGeek Live, a number of the top companies in the sector gave their insight into the future of digital asset security and custody.

Karen Wendel, the CEO and founder of TrustChains, LLC was the first to take to the stage. She broke down what custody essentially is—the provision of a mechanism to store, manage and report on any form of asset by a regulated third party.

Karen has had an interest in digital currencies and blockchain for a few years now. However, it’s when she attended the CoinGeek London Conference in February 2020 that her interest piqued. She said:

The experience was transformative. As a result of participating in that conference, my life actually changed. I changed the career path I was on and the partners I was working with, because the power of Bitcoin SV and the blockchain was so evident to me that I wanted to be part of an entirely new way of approaching custody.

Karen announced her company’s new product—the first true blockchain-powered digital asset custodial service, “turbocharged by Bitcoin SV.”

“It’s turbocharged through the use of the Bitcoin blockchain. It’s turbocharged natively through the transparency, immutability and auditability that are native to Bitcoin SV.”

The service is a partnership with The Bayesian Group. It will allow users to transform previously illiquid assets such as real estate and precious metals into digital forms, enabling them to transparently and securely trade them seamlessly. TrustChains will use custodied assets to create new forms of liquidity through tokenization, availing these tokens to both retail and institutional investors.

Karen was later joined on stage by Gabriel Frank, the director of sales at Curv and Sebastian Higgs, the vice president of the recently-established custody services at industry titan Genesis. The companies, which both support Bitcoin SV, have approached custody in different ways, with Curv being a cloud-based enterprise-grade infrastructure provider for wallets and custody, pioneering the use of multi-party computations (MPC). Genesis takes a more traditional route, having integrated Vo1t’s technology after acquiring it in May 2020.

In a panel discussion moderated by Bitcoin Association Founding President Jimmy Nguyen, the three shared some of the most prevalent concerns in the digital asset custody sector. Segregation of responsibilities, security and ease of access to assets have been some of the common concerns, especially from institutional investors.

“And of course, we have solutions for all these concerns,” Karen told the audience.

The three talked about how they secure their clients’ assets, the implementation of threshold signatures as a security measure, the emergence of trust holders to enhance security of assets, what retail investors can learn about security from their institutional counterparts and the metric of “temperature as a digital asset security measure”—hot and cold wallets.

Watch the CoinGeek Live panel, The Future of Digital Asset Security & Custody.

https://youtu.be/FAEoXeN0b8M?t=12457

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Events 1 October 2020

CoinGeek Live 2020: The future of digital asset security and custody

On Day 1 of CoinGeek Live, a number of the top companies in the sector gave their insight into the future of digital asset security and custody.

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