Decentralized credit intel startup Synnax onboards ex-Fidelity head of digital assets

Credit rating agency Synnax has hired the former Fidelity International head of digital assets to guide its trading strategy.

Synnax, an AI-powered financial platform designed for credit analysis and ratings, has hired former Fidelity International head of digital assets Luc Froehlich as its new chief commercial officer to lead the firm’s commercial strategy and operations.

Before joining Synnax, Froehlich was a senior executive for seven years, leading Fidelity International’s initiative focused on digital and tokenized assets. In February, Froehlich also joined the advisory board of Layer N, an Ethereum-based aggregation network.

“Credit markets, especially private credit, have boomed over the last few decades. In contrast, the risk assessment toolkit is lagging, transparency is still lacking, and conflict of interest persists. “By leveraging advanced encryption, we can now leverage the computing power of a vast network of AI models to provide credit intelligence.”

Luc Froehlich

Synnax CEO Robert Alcorn said Froehlich’s expertise in credit markets will help the firm work toward its mission of providing “a more reliable and confidential framework for corporate credit evaluation.”

“Her [Froehlich’s] “The appointment comes just in time as we prepare to launch our first public model.”

Robert Alcorn

Founded in 2023 by Robert Alcorn and Alessio Quaglini, Synnax uses machine learning algorithms and big data analysis to provide credit assessments for both on-chain and off-chain markets. The platform uses the SYNAI token as a means of payment for Synnax services and as a tool to incentivize and reward data scientists for their contributions. According to PitchBook’s data, the company has raised $1 million from 13 investors so far.