Former Commodity Futures Trading Commission Chair J. Christopher Giancarlo is joining stablecoin issuer Paxos's board of directors, according to a statement released by the company.

Paxos tapped Giancarlo, who has also been nicknamed "CryptoDad," who will work alongside other directors including former U.S. Senator Bill Bradley, D-N.J. 

Giancarlo will help the firm in its growth, said Paxos CEO Charles Cascarilla in a press release on Tuesday.  

"He has been at the forefront of advocating for blockchain to improve the infrastructure of our financial system," Cascarilla said. "His insights will support us as we expand our position as a leader in regulated digital asset market structure and stablecoin innovation."

Paxos issues PayPal USD, Pax Dollar and Pax Gold and is …