PR97027

SALT LAKE CITY, July 18, 2022 /PRNewswire=KYODO JBN/ --

Bitt, the world's leading central bank digital currency (CBDC) and stablecoin

platform provider, has added the award-winning CBDC team from Criteo, another

of the major players in the industry. The founders of Criteo's CBDC business

are bringing strategic expertise and deep relationships to Bitt's global

development and expansion efforts.

Video -

https://mma.prnewswire.com/media/1860216/Bitt_CEO_on_Criteo_Executives.mp4

Jim Shinn, a technology entrepreneur, scholar, and former U.S. government

official with a long history in public service and foreign affairs, will join

Bitt as Executive Director and Economist.

Erik Bethel, a global finance polyglot, with extensive senior executive

experience in the private and public sectors of the U.S., Latin America, and

China, will be Bitt's new Head of Business Development.

Bitt's CEO Brian Popelka, said, "As key global players with vast and

multifaceted industry knowledge, Jim and Erik's experience will further secure

Bitt's position as the clear leader in the international CBDC space. The Criteo

team are joining Bitt at an exciting time in the world's rapidly expanding CBDC

industry."

After winning the Monetary Authority of Singapore's Global CBDC Challenge, the

Criteo team successfully engaged over 12 central banks in Latin America,

Africa, Europe, and Central Asia, advancing their CBDC programs. "While Criteo

is re-focusing on its core e-commerce business, we now have the opportunity to

fulfill these CBDC engagements using Bitt's market-leading Digital Currency

Management System," says Jim Shinn, one of the founders of Criteo's CBDC

efforts.

Erik added, "We repeatedly encountered Bitt as the most advanced competitor in

all our market engagements. They have an outstanding reputation as the leading

supplier of robust CBDC platforms, with a complete product suite and with live

deployments on a variety of robust ledger platforms."

The Bitt Digital Currency Management System (DCMS) is the technology behind

most of the live retail CBDC deployments in the world. Among its many uniquely

salient features is that Bitt's DCMS is interoperable with best-in-class

transaction networks, legacy financial system infrastructure, AML compliance

service providers, and existing payment service providers. Central banks

benefit from Bitt's long-standing digital currency expertise, having been

developing digital currency solutions since 2014. Bitt has established

relationships with an impressive list of auxiliary partners and associations

which enhance the digital currency experience for all within a country's

financial ecosystem. Bitt's current leadership has proven digital currency

deployment experience in countries within Africa, North and Central America,

the Caribbean, and Europe. The addition of Jim and Erik will solidify Bitt as

the global digital currency leader and further expand the company's central

bank and financial institution client base.

About Bitt

Bitt is a financial technology company that provides digital currency solutions

to central banks, financial institutions, and ecosystem participants worldwide.

Bitt's Digital Currency Management System (DCMS) provides the secure

infrastructure for monetary authorities to deploy CBDCs, and for financial

institutions to integrate digital currencies into their financial service

offerings. Bitt is a portfolio company of Medici Ventures, L.P., a

blockchain-focused fund. The general partner of that fund is an entity

affiliated with Pelion Venture Partners ( https://pelionvp.com/ ).

Overstock.com, Inc. ( https://www.overstock.com/ ) (NASDAQ:OSTK) is a limited

partner of Medici Ventures, L.P. For more information on Bitt, please visit

https://www.bitt.com/about/overview

About Overstock.com

Overstock.com, Inc. (

https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.overstock.com%2F&esheet=52583566&newsitemid=20220222006084&lan=en-US&anchor=Overstock.com%2C+Inc.&index=14&md5=d942b98ce2f63a6a7d874e40539598af

) (Common Stock (NASDAQ:OSTK) / Series A-1 Preferred Stock (tZERO ATS:OSTKO) /

Series B Preferred Stock (OTCQX:OSTBP)) is an online retailer and technology

company based in Salt Lake City, Utah. Its leading e-commerce website sells a

broad range of new home products at low prices, including furniture, decor,

area rugs, bedding and bath, home improvement, outdoor, kitchen and dining

items, and more. The online shopping site, which is visited by tens of millions

of customers a month, also features a marketplace providing customers access to

millions of products. In 2014, Overstock became the first major retailer to

accept cryptocurrency as a form of payment and continues to do so. 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. Other service marks, trademarks and trade names which may be referred to

herein are the property of their respective owners.

About Pelion

Pelion Venture Partners (

https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fpelionvp.com%2F&esheet=52583566&newsitemid=20220222006084&lan=en-US&anchor=Pelion+Venture+Partners&index=15&md5=f4e30b358bbf763a7b9f3ee849935aed

) is an early-stage venture capital firm. Pelion invests in Seed and Series A

software companies across the United States. Notable investments include:

Cloudflare, Riverbed, Divvy (acquired by Bill.com), and Weave.

Media contact:

Chris Burnett

Marketing Manager Bitt

E-mail: pr@bitt.com

Website: www.bitt.com　

SOURCE: Bitt