Vishal Gupta is a finance and technology professional with experience in trading systems, product development, and digital assets. His career includes senior roles in traditional finance at Goldman Sachs, as well as leadership positions in the cryptocurrency industry at Circle and Coinbase, before he founded the digital asset exchange True Markets. ^[3]

Education

Gupta attended Rensselaer Polytechnic Institute, where he earned a Bachelor of Science degree in Computer and Systems Engineering, graduating in 2002. ^[8]

Career

Gupta began his career in 2001 as a hardware engineering analyst at Cisco Systems before moving to Rave Wireless in 2003 as an analyst at a cellular wireless start-up. From 2004 to 2012, he worked at Goldman Sachs as Vice President and Head of US Listed Options, and during that time also served as an advisory board member at Derivix Corporation. He later joined Volant Trading in 2012, where he spent three years leading the Execution Services business, VOLEX, which provided advanced routing capabilities for options trading. In 2015, he became Vice President of Product and Business Development at MoneyLion, focusing on payments and wealth initiatives until 2018.

In 2018, Gupta took on the role of Head of USDC at Circle, overseeing the launch and early expansion of the stablecoin until 2019. He then joined Coinbase in 2020 as Head of Exchange, where he managed global product strategy, liquidity initiatives, derivatives, and international exchange offerings until 2023. That same year, he founded True Markets, where he serves as CEO. The company’s flagship product is TrueX, a non-custodial, stablecoin-native exchange. ^[9]

True Markets

Gupta founded True Markets in 2023 with the stated goal of building crypto-native market infrastructure that bridges the gap between centralized finance (CeFi) and decentralized finance (DeFi). The company's primary initiative is the development of the TrueX exchange, which is designed to address what Gupta has identified as key challenges in the digital asset market, including asset safety, trading efficiency, and market concentration. ^{[3] [4]}

Interviews

DeFi Gateway

In September 2025, on the Touch Grass podcast, Gupta shared his extensive journey through the cryptocurrency and trading industries. He began his career as a computer engineer, later working on Wall Street at Goldman Sachs and evolving into roles within cryptocurrency at firms like Circle and Coinbase. At Coinbase, he made significant contributions to the expansion of its asset offerings and helped launch the company’s derivatives capabilities. After leaving Coinbase, Gupta founded True Markets, aiming to create a non-custodial trading platform that leverages decentralized finance (DeFi) rails to enhance user experience and reduce costs. He emphasized that the focus would be on expanding access to trading various assets globally while ensuring safety and compliance in a changing regulatory landscape. True Markets intends to differentiate itself by enabling seamless transactions, lowering fees, and improving trading infrastructure, while also addressing the complicated relationship between traditional finance and emerging crypto markets. ^[2]

Stablecoins and RWAs

In a discussion hosted by Jill Malandrino on NASDAQ Trade Talks in July 2025, several industry leaders examined the growing significance of stablecoins and the tokenization of real-world assets (RWAs) in the context of digital assets and regulatory changes. Gupta, the CEO of True Markets, highlighted the company's non-custodial exchange that facilitates both centralized finance (CeFi) and decentralized finance (DeFi) trading. Brian Rudik from UPEXi described their focus on leveraging the Solana blockchain, while Darren Carvalho emphasized Metawealth's role in tokenizing institutional-grade real estate assets. Iggy Ioppe of Theo Network discussed the potential for RWAs to democratize access to financial markets, citing personal experiences with financial instability. The panel noted that the evolving regulatory landscape in the U.S. could spur innovation in the sector, despite existing fragmentation in the stablecoin market. They also acknowledged the challenges faced by existing tokenization efforts, advocating for transparency, utility, and reduced risks to enhance consumer trust and participation in the emerging digital economy. ^[6]

Market Infrastructure

In a June 2025 episode of the Forward Guidance podcast, Gupta shared insights about his professional journey and the evolving landscape of cryptocurrency and market infrastructure. Having transitioned from traditional finance roles at firms like Goldman Sachs and Coinbase, Gupta highlighted his experiences in enhancing trading infrastructure and developing products like USDC. He emphasized the ongoing innovations in the cryptocurrency domain, particularly around derivatives and stablecoins, while discussing the need for better market structures and regulatory clarity. Gupta pointed out that both crypto and traditional finance hold valuable lessons for each other, specifically in terms of execution and custody separation. Furthermore, he outlined his vision for True Markets as a platform bridging centralized and decentralized finance, aiming to improve and democratize market access for various asset classes. ^[4]

Stablecoin Exchange

On The Scoop podcast in September 2024, Frank Chaparro interviewed Gupta, who discussed the launch of his new stablecoin-native cryptocurrency exchange, TrueX. Gupta shared his journey from being a hardware engineer at Cisco to holding influential roles at Goldman Sachs and Coinbase, where he significantly shaped market structures and liquidity offerings, particularly with the creation of USDC at Circle. He explained that the current U.S. crypto market is concentrated among a few exchanges, indicating a significant opportunity for a new player like TrueX, which aims to differentiate itself with features such as a separate custody model to enhance asset safety and a proprietary matching engine designed for low latency. Gupta emphasized the importance of catering to institutional clients and integrating stablecoins for efficient trading, while also highlighting the growth potential in derivatives and options within the crypto space. ^[1]