Stephen A. Aschettino brings extensive experience with payments technology, e-Commerce and blockchain technology
December 16, 2020 – NEW YORK – Reed Smith today announced that Stephen A. Aschettino has joined the Global Corporate Group’s FinTech Practice as a partner in the New York office. Aschettino is a former general counsel and seasoned trial attorney, and he advises diverse companies in every sector on legal, regulatory and commercial aspects of the evolving payments technology sector, including all forms of electronic payments, blockchain solutions, credit and prepaid cards, mobile wallets, peer-to-peer payment apps, cryptocurrencies and related licensing issues.
“Stephen is widely regarded for his business acumen and depth of knowledge concerning the rapidly developing and advancing payments technology industry sector,” said James Tandler, Chair of the U.S. Corporate Group. “His arrival at the firm is timely, as payments technology and blockchain applications to financial services are critical for businesses dealing with the impact of COVID-19 and the rapidly growing demand to offer domestic and cross-border payments solutions for traditional, online and app-based businesses.”
Aschettino comes to Reed Smith from Loeb & Loeb LLP, where he was a partner, chair of the Payments Technology Practice and co-leader of that firm’s Blockchain Team. He advises a wide range of companies in the payments sector, including large financial institutions, payment processors, technology companies and emerging FinTech start-ups. Aschettino also works with large retailers, manufacturing companies, sports franchises, entertainment and social media companies to develop and implement payments technology solutions. He has significant experience related to new product development, digital transformation and regulatory matters. Aschettino is a recognized and sought-after thought leader on payments, blockchain and cybersecurity issues. He is often featured in leading journals, has authored numerous articles and is a frequent speaker at industry and legal seminars and events.
Reed Smith’s premiere global platform, fast-growing FinTech and Technology practices, and commitment to diversity are among the reasons Aschettino decided to make the move to the firm. He is a member of the Hispanic National Bar Association, was a speaker at its 2020 Corporate Counsel Conference and has long been an active proponent of activities that support and increase diversity in the legal profession.
“I’m excited to join Reed Smith’s entrepreneurial and dynamic group of FinTech and Technology attorneys,” Aschettino said. “Payments technology is being developed and deployed at a rapid pace across the globe. In addition to Reed Smith’s unparalleled platform, the firm’s continued efforts and commitment to further diversity and inclusion firmwide and throughout the legal industry are extremely important to me, and I look forward to actively participating in those initiatives.”
Aschettino has practiced law for more than 25 years. In addition to having been a partner at global law firms Loeb & Loeb LLP, Foley & Lardner LLP and Nixon Peabody LLP, he previously served as General Counsel to a leading payment processor. He earned his B.S. from Cornell University and his J.D. from American University, Washington College of Law.
“This is an exciting and critical time for companies in the payments industry,” said Cindy Schmitt Minniti, Managing Partner of Reed Smith’s New York office. “Stephen’s practice complements the work of our existing FinTech and Technology practices and will greatly enhance our capabilities and offerings to companies in this rapidly developing market.”
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