Bitt Appoints Sean Cairncross as Advisor
DRAPER, Utah, March 27, 2023 — Bitt is pleased to announce that Mr. Sean Cairncross, President of The Cairncross Group, a strategic consultancy based in Washington D.C. and a Senior Visiting Fellow at the Krach Institute for Tech Diplomacy at Purdue, has joined the company’s advisory team.
Previously, Mr. Cairncross served as the Chief Executive Officer of the Millennium Challenge Corporation (MCC), an independent U.S. Government agency focused on sustainable, inclusive global development, and sat on its Board of Directors from 2019 to 2021. Before this, he had been a Deputy Assistant to the President and Senior White House Advisor to the Chief of Staff.
During his tenure at MCC, Mr. Cairncross managed a global investment portfolio of over $13 billion, and established relationships with partner countries committed to good governance, economic freedom, and investment in their citizens, on behalf of the United States Government. He also prioritized private sector engagement, market expansion, and women's economic participation as key drivers of economic growth in partner countries.
“I am thrilled to join Bitt's mission to harness the digital currency transformation to bring growth, sustainability, and inclusivity to global financial systems. I have witnessed first-hand the economic power that is unleashed when societal stakeholders and institutions collaborate to implement the right technological assistance. Providing that trusted assistance is precisely the role Bitt plays. I look forward to doing everything I can to support Bitt as we continue to expand on its track record of success in building innovative, open, digital financial ecosystems benefitting millions of people around the world.”
Mr. Cairncross began his career at Covington & Burling and holds a J.D. from NYU School of Law, an M.Phil. from Cambridge University, and a B.A., summa cum laude, from American University.
Bitt is a global financial technology company that provides digital currency solutions to central banks, financial institutions, and ecosystem participants worldwide. Bitt’s Digital Currency Management System (DCMS) is the secure infrastructure that monetary authorities need to deploy CBDCs, and for financial institutions to integrate digital currencies into their financial service offerings. Bitt’s DCMS has been deployed in 12 countries across Africa, Central America, Europe, and the Caribbean. Bitt is a portfolio company of Medici Ventures, L.P., a blockchain-focused fund. Overstock is a limited partner in the Medici Ventures Fund, L.P. The general partner of that fund is an entity affiliated with Pelion Venture Partners.
Overstock.com, Inc. (NASDAQ:OSTK) is an online furniture and home furnishings retailer and technology-focused innovator based in Salt Lake City, Utah. Its leading e-commerce website sells a broad range of new home products at low prices, including furniture, décor, area rugs, bedding and bath, home improvement, and more. The online shopping site features millions of products that tens of millions of customers visit each month. Overstock regularly posts information about the Company and other related matters on the Newsroom and Investor Relations pages on its website, Overstock.com.
O, Overstock.com, O.com, and Club O are registered trademarks of Overstock.com, Inc. Overstock and Making Dream Homes Come True are trademarks of Overstock.com, Inc. Other service marks, trademarks and trade names which may be referred to herein are the property of their respective owners.
Pelion Venture Partners is an early-stage venture capital firm. Currently investing out of their seventh fund, Pelion invests in Seed and Series A software companies across the United States.