The TON Foundation has hired a former Visa executive in the encryption business as Vice President of Payments.

On May 28, The Block reported that the TON Foundation has appointed Nikola Plecas, a former Visa crypto executive, as vice president of payments. Plecas will be responsible for developing TON’s global payments strategy, managing the TON and Telegram-based app partnerships, and the Foundation’s compliance strategy. He previously held a number of crypto-related positions at Visa, including Head of Crypto Business Europe and Senior Director of New Product Commercialization at Visa Crypto.

Plecas will work closely with Max Crown, the CEO of the TON Foundation, who joined in April this year. TON is a Layer 1 blockchain built for the Telegram messaging platform, and its token Toncoin currently has a market capitalization of approximately $7.5 billion.