Paolo Ardoino will take the reins as Tether’s (USDT) new Chief Executive Officer (CEO) in December, according to an Oct. 13 statement from the stablecoin issuer.

Former CEO Jean-Louis van der Velde will transition into an advisory position at the stablecoin firm while retaining his CEO role at Bitfinex crypto exchange. On the other hand, Ardoino will continue in his roles as Chief Technology Officer (CTO) for Bitfinex and Chief Strategy Officer (CSO) for Holepunch.

Ardoino became Tether’s CTO in 2017 and has grown to become the public face of the firm. According to the statement, Ardoino co-led the strategy that led to the stablecoin’s substantial growth in market capitalization to $83 billion.

Under Ardoino’s leadership, the company hopes to drive financial inclusion in emerging markets and work as a “tech powerhouse” that would “revolutionize the industry and serve as an infrastructure partner in the development of resilient cities.”

Velde hailed the promotion, saying Ardoino is well-suited to lead Tether into an exciting new era. He added that “Tether is poised to continue its rapid growth, with a continued focus on emerging markets and transformative technology” under Ardoino’s leadership.

Ardoino said:

“Together with our community, we can build a future that lifts the barriers to our freedoms. We remain committed to transparency, security, and to being an unstoppable force in the seamless integration of digital assets into the global financial ecosystem and beyond.”