Boston-based startup Circle Internet Financial added a long-standing financial industry tycoon to its advising team on Monday, according to Fortune.
M. Michele Burns, who is on the board of Goldman Sachs, has joined the Bitcoin payment processing system company’s board of directors.
Additionally, Burns serves on the board of Cisco Systems and the Elton John Aids foundation. Burns is the former CEO of HR consulting firm Mercer and a former board member of Wal-Mart.
Started by Brightcove founder Jeremy Allaire, Circle launched in October, billing itself as a builder of “digital currency products that make money simpler, safer, and more powerful.” The company scored $9 million in funding from a number of investors and venture capital firms, the most notable being Jim Breyer, a partner at Accel Partners and early investor in Facebook.
Breyer, along with Raj Date, who recently left a leadership position at the Consumer Financial Protection Bureau, also hold spots on Circle’s board.
Burns’s move marks another step forward for the Bitcoin economy. As Fortune points out, Burn’s connections with Wal-Mart could prove especially helpful, considering that an increasing number of major retailers are discussing whether they will accept the digital currency in the near future. Prominent Silicon Valley VC Andreessen Horowitz also invested $20 million in Circle competitor and digital Bitcoin wallet CoinBase, in early December.
