A credit rating startup, Synnax, has appointed Luc Froehlich, former head of digital assets at Fidelity International, as its new Chief Commercial Officer. Froehlich will drive the company’s commercial strategy and operations.

Synnax is an artificial intelligence-powered financial platform focused on credit analysis and ratings. Before joining Synnax, Froehlich managed Fidelity International’s digital and tokenized assets venture for seven years. Additionally, he joined Layer N, an Ethereum-based roll-up network, as an advisory board member in February.

“Credit markets, particularly private credit, have grown significantly over the past few decades. However, the risk assessment toolkit has not kept pace. By leveraging advanced encryption, we can use a broad network of AI models to deliver credit intelligence.”

Froehlich’s expertise will be instrumental as Synnax aims to provide a more trustless and privacy-preserving framework for institutional credit assessment. According to Synnax CEO Robert Alcorn, Froehlich’s appointment is timely as the firm prepares to release its first public model.

Synnax was founded in 2023 by Robert Alcorn and Alessio Quaglini. The platform uses machine learning algorithms and big data analysis to offer credit evaluations for both on-chain and off-chain markets. The SYNAI token is utilized for payments and to incentivize data scientists for their contributions. To date, Synnax has raised $1 million from 13 investors.

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