Qredo has seen more departures in recent weeks as the crypto custodian intensifies efforts to boost the value of its equity business and create utility for its token, two sources with knowledge of the matter told The Block.

Qredo asked for the departure of one of its founding team members, Benjamin Whitby, who most recently served as vice president of strategic partnerships, the sources said.

Whitby confirmed his departure to The Block, saying: "I was gutted to be asked to leave" and that he would "absolutely go back" if they asked him. Whitby said he is still a shareholder of Qredo, having put his "money in from day 1."

Qredo's head of the Asia-Pacific region, Dan Burke, resigned to explore other opportunities, the sources said. Burke confirmed his exit, saying that his last working …