Keith Grossman, president of TIME, has left the media firm to join crypto payments infrastructure firm MoonPay.
Grossman announced via Twitter that he is to become MoonPay's president of enterprise following a three-plus year tenure as TIME's president.
The move had been reported previously by CNBC.
Under his presidency, TIME embraced digital asset adoption, accepting crypto as a method of payment for subscriptions and holding ether (ETH) on its balance sheet as part of a deal with investment firm Galaxy Digital. The firm also launched its TIMEPieces Initiatve, a collection of non-fungible tokens (NFTs) showcasing original artwork.
MoonPay is a crypto payments infrastructure firm which allows users to exchange traditional fiat currencies and crypto using mainstream methods of payment such as debit cards, credit cards Apple Pay and Google Pay.
It has also acted as a dealer for NFT purchases by celebrities such as Snoop Dogg and Paris Hilton. These two celebs, along with a slew of others including Justin Bieber, The Weeknd, Drake, Ashton Kutcher and Gal Gadot, joined MoonPay's $555 million Series A funding round a year ago.
Grossman's move may demonstrate that despite the uncertain circumstances currently surrounding the digital asset industry, crypto and blockchain enthusiasm enthusiasm remains strong among many in established mainstream industries.
"I'm a contrarian by nature," Grossman told CoinDesk TV's First Mover on Monday morning.
"At the moment, while prices might be down, there's a lot of exciting things happening. In the last three months alone, you've seen Starbucks, Nike and Universal Studios enter the space, many of which have been done with MoonPay."
Grossman added that he expects TIME to remain in a strong position to continue its expansion into Web3 following his departure.
Read more: Here Are the Most Expensive NFTs Bought by Celebs – and What They're Worth Today]
UPDATE (14:50 UTC, Nov. 28, 2022): Adds quotes from Grossman's CoinDesk TV appearance
