UPPER SAUCON TWP., Pa. – Shift4 isn’t slowing down in its post-Jared Isaacman era.
Isaacman, who started the payment processing company in 1999 when he was still a teenager, tendered his resignation as executive chairman of the Shift4 board of directors last week, after his nomination to lead NASA was approved by the U.S. Senate.
On Monday, Shift4, which is based in Lehigh County, announced the launch of a stablecoin settlement platform. Stablecoins are a type of cryptocurrency that are tied to another asset, often a traditional fiat (government-issued) currency.
“Hundreds of thousands of merchants globally will now have the option to receive money more quickly and move funds 24/7 via stablecoin settlement, without the constraints of typical banking hours or other limitations,” said Shift4, in a news release.
According to the company’s website, the platform marks a “meaningful step forward” in Shift4’s evolution to integrate crypto and stablecoin capabilities.
Merchants who do business with Shift4 can select from several different stablecoins, including USDC, USDT, EURC and DAI.
Shares of Shift4 (NYSE: FOUR) were trading at $65.33 Monday afternoon. That’s near the bottom of their 52-week range. The company has a market capitalization of about $5.68 billion.
Isaacman at NASA
Although Isaacman, who lives in Northampton County with his wife and two children, had to wait awhile before officially landing the top job at NASA, things have moved quickly over the past week.
The Senate confirmed his nomination as the 15th NASA Administrator on December 17, and he was sworn-in the very next day, the same day Shift4 announced his resignation from the board.
On Friday, December 19, Isaacman held a town hall style meeting with NASA employees to talk about his vision for the space agency.
Official portrait of NASA Administrator Jared Isaacman
NASA/Bill Ingalls
Previously, Isaacman served as Shift4’s CEO; he announced his intention to resign from that role when President Trump first nominated him for the NASA job last year. Things got complicated after Trump pulled the nomination in May (before reinstating it last month).
In June, with the NASA job then out of reach, Isaacman said he would follow through on handing over CEO duties to then-company President Taylor Lauber. Now Lauber will fill Isaacman’s void again, this time as chairman of the board.
“We are thrilled for Jared and are eager to witness his exceptional talents and bold vision put to work at NASA. Those of us who have worked closely with Jared over the years have been privileged to see both his ambition and ability to achieve those lofty goals. Now we’re excited for America to see what we’ve known for some time. His achievements will continue to inspire all of us at Shift4 as we drive towards an exciting future,” said Lauber, in a statement.
Previously, Isaacman has commanded two all-civilian space missions on SpaceX’s Dragon capsules.