Blockchain analytics firm Crystal appoints ex-Ripple exec as CEO

Blockchain analytics firm Crystal has appointed Navin Gupta, who drove growth for Ripple firm in the MENA and South Asian markets, as its new head.

In a press release on Feb. 19, the Netherlands-headquartered firm said Gupta will replace Marina Khaustova, who has moved into the new position of chief operations officer at Crystal.

With Gupta, Crystal wants to expand its blockchain intelligence solutions to a “global audience of regulators, VASPs [virtual asset service provider], tradfi [traditional finance] sectors, and stakeholders in cryptocurrencies,” the press release says. Commenting on his appointment, Gupta emphasized the importance of enhancing intelligence products to meet the evolving needs of financial regulators amid the increasing adoption of digital assets.

“Regulators need superior intelligence and cutting-edge tools to navigate these changes, and tradfi institutions are seeking to manage risks effectively as they enter the digital assets market.”

Navin Gupta

Prior to Ripple, Gupta served at financial giants HSBC and CitiBank for nearly two decades where he held various positions across regions including the U.S., Hong Kong, Japan, Taiwan, and India.

Brian Brooks, former head of the Office of the Comptroller of the Currency and current Bitfury Board member (Bitfury Group oversees Crystal Blockchain as its subsidiary), expressed praise for Gupta’s appointment, viewing it as a strategic move to address an “increased appetite” need for compliance tools.

Founded in 2018 as a subsidiary of the Bitfury Group, Crystal is a blockchain analytics firm specializing in providing tools and services for tracking and analyzing blockchain transactions, particularly in the context of compliance and anti-money laundering efforts.