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From left to right: Rafael Cosman (CEO), Alex de Lorraine (COO), Tom Shields (Independent Chairman of the Board)

Rafael Cosman as CEO & Board Member

We’re proud to announce Rafael as TrustToken’s new CEO. He is TrustToken’s co-founder, former Head of Engineering, and the technical architect behind our key products. Rafael has been a driving force in cultivating TrustToken’s company culture, recruiting to the team across all departments, and taking the company from merely an idea to where it is today. Rafael has long been committed to bringing groundbreaking technologies to market, previously working at Google Brain and Kernel.

Alex de Lorraine as COO & Board Member

Alex will now serve as TrustToken’s COO. Transitioning from Director of Finance, Alex has been instrumental in bringing TrustToken towards profitability, opening and staffing our Ireland office, and managing many of our critical business functions. Alex brings over 20 years of experience in finance, operations, and compliance from Google, Pfizer, IBM, and beyond.

Tom Shields as Chairman of the Board

Tom is a seasoned technical founder and investor. Having taken NetGravity public in 1998 as CTO, Tom has since founded, invested in, sat on the boards of, and advised founders at dozens of mission-driven companies. Having acted as an advisor to TrustToken for years, Tom has built a trusted relationship with our team as well as a strong context on our business and mission.

Along with these changes, we also say goodbye to TrustToken co-founder Jai An. Though we remain grateful for his intellectual curiosity and visionary leadership, it became clear to the team that Mr. An was unable to continue serving in the best interest of the business or meet its strategic objectives.

After a majority vote by the Company’s shareholders to remove Mr. An from the Company’s board of directors, the new board terminated his employment, and voted Rafael into the new position of CEO. We wish Mr. An happiness and success as he transitions his focus to personal projects.

Building On Momentum

On behalf of all of us at TrustToken: though our team is changing, our commitments have not.

We remain more invested than ever to delivering groundbreaking technology, nurturing a vibrant and productive team, and continuing to grow a sound business, all in the interest of making financial opportunities available to everyone.

To that end, our team is focused on three major initiatives, each which hit major milestones in the last month:

Growing the access and utility of TrueCurrencies

TUSD hit a new all-time high market cap of $300M on August 19th. As of this month, TUSD can also be used to book travel and hotels through Travala, the world’s largest crypto travel site.

Developing the TRU Ecosystem

The first two batches of TRU, TrustToken’s native platform token originally announced in 2017, have been issued to over 100 purchasers.

Joining the DeFi Ecosystem

MakerDAO accepted TrueUSD as a new DAI collateral type, while TCAD, TAUD, and TGBP have also been greenlit for review. TUSD continues to enjoy massive adoption in Aave and Curve Finance, two of the most popular DeFi protocols.

These very recent milestones are the work of a brilliant and dedicated team working on a unified strategy supported by a leadership team we believe in.

The new era of TrustToken isn’t just the people at the helm. It’s the new environment of shared focus, mutual trust, and commitment to excellence that truly marks the future of our work — and these wins are just the beginning.

Thanks for joining us in what’s next.


The Next Era of TrustToken & The Team to Lead It was originally published in TrustToken on Medium, where people are continuing the conversation by highlighting and responding to this story.

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