Mumbai: The New York headquartered blockchain firm MonetaGo recently appointed Kashinath Katakdhond as the Managing Director (MD) for the Indian operations. Previously, Katakdhond was MD and CEO of Receivables Exchange of India Limited (RXIL) – operating the Trade Receivables Discounting System (TReDS) platform, one of MonetaGo’s first clients in India.
Katakdhond was instrumental in setting up RXIL, India’s first TReDS platform, a joint initiative of the National Stock Exchange of India Ltd (NSE) and Small Industries Development Bank of India (SIDBI) and backed by SBI, ICICI Bank and YES Bank. While at RXIL, he was responsible for the implementation of the Fraud Prevention Network, a solution for preventing multiple financing of invoices across TReDS exchanges – India’s first permissioned private network using distributed ledger blockchain solution provided by MonetaGo.
“We are excited to bring Mr. Katakdhond on board to spearheadMonetaGo’s Indian operations. He comes with decades of global experience in the financial services space and information technology industry. His knowledge and clout in the Indian landscape will tremendously benefit not only our own development roadmap, but the entire Indian economy,” said Jesse Chenard, Founder and CEO – MonetaGo.
Katakdhond has been associated with the financial industry globally for 25 years, with over 12 years with Wall Street banks such as Citigroup, Credit Suisse, and State Street Corporation. At Citi in New York, he was working in Corporate Treasury on the Treasury Liquidity Monitoring Program put in place by Federal Reserve Bank during the financial crisis. Katakdhond started his career working with founding members of the National Stock Exchange of India Ltd. (NSE) when the exchange was first being setup.
“Having learned about the capabilities of the teams at MonetaGofirsthand as well as the various technologies which they are helping institutions implement, I felt that I could help the growth of these networks. By providing a clear benefit to the millions of businesses we have here in India I would be helping one of our most important resources: our people,” said Kashinath Katakdhond.
Katakdhond has completed his Global Executive MBA from Georgetown University – McDonough School of Business, School of Foreign Service and ESADE Business School. He also has MBA in Finance from Symbiosis Institute of Business Management, University of Pune and completed his Bachelor of Engineering (Computers) from VJTI, University of Mumbai.
MonetaGo launched India’s first permissioned blockchain network this year with the Indian Factoring Exchanges – RXIL,A.TReDs and M1xchange – to prevent financial fraud and double invoicing problems. The system helps provide a common platform not controlled by any one financial institution to securely and confidentially share information which in result reduces fraud around receivables financing. The ultimate impact is better lending rates and more access to capital for businesses nationwide.