British Virgin Islands – July 12, 2018 – Tether Minimal, the primary company of tokenized traditional government-backed currencies, has appointed former AML Top quality Command Supervisor at the Financial institution of Montreal, Leonardo Authentic, as Main Compliance Officer (CCO).
“We are all very enthusiastic to introduce Leonardo as Main Compliance Officer at Tether, as he joins us on what has presently been a impressive journey to date disrupting the legacy financial program. His depth of practical experience managing AML risk in capital markets, as properly as the prosperity management and commercial banking sectors, mixed with his confirmed expertise in quality command management and strategy formulation will make him an priceless asset to our organization. All of us at Tether have every self-confidence in his ability to oversee and take care of all pertinent compliance problems as we proceed to transfer ahead and grow” -Jean-Louis van der Velde, Main Govt Officer of Tether.
An expert skilled in the traditional finance and money compliance sector, Authentic was beforehand AML Top quality Command Supervisor at the Financial institution of Montreal where by he was responsible for developing most effective methods, procedures, and methods in line with regulatory demands to increase the quality of the bank’s AML investigations. Prior to keeping positions at the Financial institution of Montreal, Authentic was used by Bridgeforce Money, 1 of Canada’s primary Taking care of Typical Agents (MGA). He also has practical experience functioning in the financial working day, stock, and futures buying and selling. Authentic is a confirmed thought chief in the sector, having co-penned the 2016 ACAMS Right now Posting of the Year which focused on cash laundering challenges affiliated with cryptocurrencies. He also structured a Blockchain, Cryptocurrency, and AML function held in Toronto, Canada in August 2016, bringing together regulators, bankers, legislation enforcement experts, and providers in the blockchain house to explore responsible use of cryptocurrencies.
“Joining Tether as CCO is an unbelievably exciting transfer for me personally, and I am especially amazed by the inspiration, determination, and talent of the Tether crew. I glance ahead to aiding showcase Tether’s motivation to transparency and regulatory compliance in the blockchain and cryptocurrency house. As a longtime advocate of blockchain technological innovation and the integration of cryptocurrencies into the mainstream, I am wanting ahead to placing my practical experience in AML and regulatory compliance in traditional financial establishments to use, to assure that the Tether venture can proceed its get the job done disrupting traditional industries,” reported Authentic.
Released in 2014, Tether was the first blockchain-enabled platform to allow for traditional currencies to be tokenized, enabling buyers to transact with fiat currencies across the trade without the need of the relative volatility affiliated with electronic currencies. Tether Minimal holds 1:1 reserves for all Tether generated in its agreement, where by each individual Tether is backed by its corresponding currency on deposit. A total listing of balances issued to all Tether can be considered, confirmed, and checked towards the on-chain deployments of Tether contracts by any fascinated get together.
“We are especially enthusiastic to announce this key retain the services of at a seminal issue in the daily life of the blockchain and cryptocurrency sector. As the sector matures, all actors in the house shall be expected to meet a better normal of sector most effective methods. As Tether carries on to get the job done to understand our eyesight of total transparency and unparalleled safety in the cryptocurrency sector, we will often endeavor to set the gold normal in regulatory compliance. Leonardo will play an critical part in noticing these aims, and we are very enthusiastic to welcome him aboard as we glance ahead to all that lies forward,” concluded Van der Velde.
Tether is disrupting the legacy financial program by supplying a much more fashionable technique to cash. By introducing fiat currency—digital cash—to the Bitcoin & Ethereum blockchains, Tether helps make a important contribution to a much more linked ecosystem by adding electronic currency gains, this sort of as immediate worldwide transactions, to traditional currency and traditional currency gains, this sort of as price tag security, to electronic currency. With a motivation to whole transparency and compliance, Tether is the most safe, speediest and cheapest charge way to transact with cash.