(MENAFN- GlobeNewsWire - Nasdaq) With an extensive background in traditional finance and fintech, McCluskey is set to steer Sologenic through its next phase of growth.

DUBAI, United Arab Emirates, Jan. 07, 2025 (GLOBE NEWSWIRE) -- The Sologenic Development Foundation announced Michael McCluskey as its new Chief Executive Officer. This leadership change comes at a pivotal time as Sologenic has recently partnered with a US-based broker-dealer to launch tokenization solutions and navigate the rapidly evolving regulatory environment.

Sologenic stands as the largest ecosystem built on the XRP Ledger, covering the entire user journey-from issuing digital assets to managing and trading them on a decentralized order book DEX.

McCluskey brings nearly two decades of experience from pivotal roles at Fidelity Investments and multiple fintech organizations while also being an active member of the Boston Blockchain Association. His expertise spans sales leadership, strategic partnerships, and payments technology, making him an ideal leader to propel Sologenic's mission of merging traditional financial markets with modern blockchain solutions.

Sologenic is actively working with Texture Capital to build SoloTex , a platform aiming to tokenize and trade capital markets on demand. McCluskey has joined as a Board Observer of Texture Capital, representing both CoreNest Capital and Sologenic in this venture.

"Mike has been instrumental in our company's strategic decisions and results, and his appointment comes at a critical time as Sologenic scales its operations," said Bob Ras , Co-Founder of Sologenic. "His vision for how blockchain can transform the financial industry aligns perfectly with Sologenic's long-term goals and we are excited for his continued positive impact on the business."

This transition in leadership will also impact Sologenic's sister project, Coreum , a layer 1 blockchain that is positioned to serve as the tokenization engine of various projects in 2025, including stablecoin and payment solutions for institutions.

“I couldn't be more thrilled to take on this new role and pursue the next level of success for our company,” McCluskey commented.“I'm honoured to be part of such a talented, visionary team that has built an innovative blockchain infrastructure alongside a thriving ecosystem and community. The time is right for us to capitalize on the clear growth trajectory of the digital asset industry.”

About Sologenic
Founded in 2020, Sologenic is a leader in tokenization, offering on-demand solutions for institutional and retail markets. Its advanced trading infrastructure supports blockchain-native assets, stablecoins, and soon, tokenized securities, bridging traditional finance with blockchain innovation.

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