Digital Banking App Cogni Onboards Crypto Expert Simon Grunfeld to Lead Web3 Expansion

Simon Grunfeld will spearhead Cogni’s Web3 expansion and regulatory compliance.
Image source: Cogni

Quick take:

  • Cogni plans to launch a non-custodial crypto wallet this fall and crypto exchange features in Q1 2023.
  • The platform’s Web3 expansion include providing users access to services across traditional banking, crypto, NFTs, gaming, and the metaverse.
  • Cogni secured a $23 million venture fund in April.

Digital banking platform, Cogni, today announced that seasoned crypto executive, Simon Grunfeld, has joined the platform as VP of Web3. This is part of Cogni’s expansion into the space as it prepares to launch a non-custodial multi-chain wallet this fall and crypto exchange features in Q1 2023.

In his new role, Grunfeld will spearhead Cogni’s Web3 expansion and regulatory compliance as new regulations come out this year or next year. He is a former registered commodity trading advisor (CTA) with the National Futures Association (NFA). 

“Web3 is a massive growth factor in modern financial services, and represents a competitive advantage in making platforms compliant with fiat processing and other third-party integrations,” said Grunfeld.

His most recent Web3 role was VP of crypto at SIMBA, a a cloud-based, blockchain-as-a-service (BaaS) platform. In addition to that, he is also an investor at Akemona, a tokenisation platform for digital assets

With the rise of the growing blockchain industry, Grunfeld founded the crypto solutions and white label platform, Ibinex, in 2014 to support enterprises in setting up their own crypto exchange. Following Ibinex, Grunfeld served as the SVP of pperations at Apifiny, a global digital asset trading network, where he led its launch of US and APAC digital asset offerings, including decentralised financing and digital payments

Prior to his roles in Web3, Grunfeld’s career in the capital markets began in 2005 as the founder and owner of Gallant VPS and Gallant FX, a PaaS world leader in Forex trading technologies serving both retail and institutional clients. 

Founded in 2018, Cogni gives its members zero-fee banking, access to 55,000 free ATMs worldwide, single-use cards, and access to discounted gift cards.

In April, the platform raised $23 million in Series A funding co-led by Hanwha Asset Management and CaplinFO with participation from Solana Ventures, FTX Ventures, Ship Capital, Thirty Five Ventures, ROK Capital, Bluewatch Ventures, and Alsara Investment Group.

Following the round, Cogni began bridging Web2 and Web3 to provide users access to services across traditional banking, crypto, NFTs, gaming, and the metaverse. The funds will be used to continue building the platform’s core technology and infrastructure, onboard new users to the platform, expand its suite of products and hire new talent.

Cogni aims to bridge the gap between Web2 and Web3 services by building a fully compliant, digital banking experience for mainstream user adoption.

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