After almost a decade at Morgan Stanley, Jacob Dienelt is joining the nascent digital money industry.

Bitcoin technology company Factom has hired Morgan Stanley's Jacob Dienelt as head treasurer.

Dienelt is the first Wall Street veteran to join a Bitcoin 2.0 company, which creates an audit trail through the Bitcoin Blockchain technology.

In his new role, Dienelt will drive Factom's focus on Bitcoin asset management for its software token sale. He joins from Morgan Stanley Private Wealth Management, where he managed a team of future specialists.

“After two years traveling to Bitcoin conferences, mining, and running a paper wallet company, I'm glad to have found a home in the space,” said Dienelt.

Bitcoin companies that have recently poached veterans from the traditional banking space include Circle Financial, Digital Asset Holdings, and 21.

“As the world's large companies and institutions begin adopting blockchain technology, it naturally follows that their top people will get involved in projects such as Factom in order to be leaders in that transition,” said chairman of the board at Factom, David Johnston.