Finxflo has appointed Mark Hope as Chief Compliance Officer, based in the company’s Singapore headquarters.
Mr. Hope is a 20-year industry veteran with compliance experience at top-tier institutions such as Barclays Capital, Citibank, and Standard Chartered, with a focus on currencies and OTC and fixed income markets.
His compliance experience includes assisting US federal authorities with their investigations into the attempted manipulation of prominent currency fixes in the wake of the LIBOR rigging scandal, and later, the FX market scandal.
Mark Hope has also played an important role in the world of electronic foreign exchange trading as a writer of global policies and standards on algorithmic trading compliance.
Mark Hope, Chief Compliance Officer at Finxflo, said: “I like what Finxflo is trying to achieve by bridging the gap between the crypto and traditional financial markets, not just in terms of trading functionality and price discovery, but also in their approach to governance and risk management.
“Finxflo is building the future of financial management and I’m looking forward to playing my part in that”, Mr. Hope added, as he will be responsible to ensure compliance with MAS regulation in order to maintain safety and security for all Finxflo’s traders as the company establishes itself as a bridge between traditional wealth and crypto wealth.
Mr. Hope expects institutional fund managers to progressively allocate more of their portfolios to cryptocurrencies as the asset class transitions from a fringe investment into the mainstream:
“Having regulated entities with a strong governance, ethics, and risk management-oriented ethos will be vital to helping the crypto market get to a place where that institutional money can start to be allocated, and where traditional retail investors can feel more confident in investing. For me, Finxflo represents a new wave of regulated crypto venues providing an increasingly safe and level playing field for investors of all levels.”
James Gillingham, founder at CEO at Finxflo, said: “I’m very excited to have Mark joining the team at Finxflo; it shows how far the company has come, especially considering we started only a year and a half ago with just a few individuals. Now, we’re hiring from Tier 1 investment banks — Mark has a lot of experience in the right areas, which will ensure we are totally compliant with global regulations.”
Finxlo has recently acquired MAS regulation and oversight. The firm has also applied for the PSA act, European and CySEC regulations, and the broker-dealer license in the US.