Michael Novogratz’s Galaxy Digital (GLXY) has hired Zac Prince as a managing director, according to an internal memo seen by CoinDesk.

Prince will be working closely with Galaxy’s President, Chris Ferraro, to expand the company’s digital assets offering.

Galaxy believes that crypto is entering a “pivotal era of transformation,” and has hired Prince to help deliver the firm’s strategic vision, the company said in the memo.

He joins from real estate advisory firm RE Cost Seg, where he was employed as CEO for the last year.

Prince is well known in the industry. He is the former CEO and co-founder of bankrupt crypto lender BlockFi.

Galaxy hired former Point72 chief financial officer Anthony Paquette to serve in the same role at the crypto financial services firm, it said in December.

Read more: Michael Novogratz’s Galaxy Appoints Former Point72 Exec as CFO