Enabling the digitization of national currencies.

21 December 20, 2022, Draper, Utah, USA — Following the appointment of a new CTO, Bitt further strengthened its competitive advantage with the announcement of a senior global executive to its Advisory Board.

Ambassador J. Peter Pham served as the first-ever United States Special Envoy for the Sahel Region of Africa, with the personal rank of Ambassador from 2020 to 2021, after having previously been the U.S. Special Envoy for the Great Lakes Region of Africa. He will provide Bitt with strategic guidance based on his extensive knowledge of African business, finance, and government affairs.

On welcoming the seasoned diplomat and noted scholar, CEO of Bitt, Brian Popelka said, “We look forward to the extensive knowledge and insight that Ambassador Peter Pham will bring to Bitt’s executive leadership, based on his years of experience in these key regions of Africa.”

In his last government position, Pham was the U.S. administration’s lead in shaping, devising, and coordinating U.S. strategy on the cross-border security, political, economic, assistance, and social issues arising in West and North Africa. “I am excited to join Bitt’s Advisory Board.” noted Pham, “I look forward to leveraging my experience in Africa and my knowledge of the challenges and opportunities present on the continent to strengthen Bitt’s existing relationship with the Central Bank of Nigeria, and also to help forge similar partnerships with other African institutions; thereby contributing to the region’s development by advancing financial inclusion and facilitating pan- African exchange.”

As an increasing number of the world’s central banks embark on their respective CBDC journeys, Ambassador Pham’s appointment to the Advisory Board will ensure that Bitt is positioned to capitalize on these opportunities.

About Bitt
Bitt is a global financial technology company that provides digital currency solutions to central banks, financial institutions, and ecosystem participants worldwide. Bitt’s Digital Currency Management System (DCMS) is the secure infrastructure that monetary authorities need to deploy CBDCs, and for financial institutions to integrate digital currencies into their financial service offerings. Bitt’s DCMS has been deployed in 12 countries across Africa, Central America, Europe, and the Caribbean. Bitt is a portfolio company of Medici Ventures, L.P., a blockchain-focused fund. Overstock is a limited partner in the Medici Ventures Fund, L.P. The general partner of that fund is an entity affiliated with Pelion Venture Partners.

About Overstock
Overstock.com, Inc. (NASDAQ:OSTK) is an online furniture and home furnishings retailer and technology-focused innovator based in Salt Lake City, Utah. Its leading e-commerce website sells a broad range of new home products at low prices, including furniture, décor, area rugs, bedding and bath, home improvement, and more. The online shopping site features millions of products that tens of millions of customers visit each month. Overstock regularly posts information about the Company and other related matters on the Newsroom and Investor Relations pages on its website, Overstock.com.

O, Overstock.com, O.com, and Club O are registered trademarks of Overstock.com, Inc. Other service marks, trademarks and trade names which may be referred to herein are the property of their respective owners.

About Pelion
Pelion Venture Partners is an early-stage venture capital firm. Currently investing out of their seventh fund, Pelion invests in Seed and Series A software companies across the United States.