The UK-FCA regulated cryptocurrency focused broker Sequant Capital has appointed former PayPal veteran Erik Wilgenhof Plante as its Chief Compliance Officer. Erik will lead the broker’s effort to comply with regulatory framework and will strengthen its credibility in the cryptocurrency space. Erik’s appointment comes at a time when the whole cryptocurrency sector is witnessing a lot of regulatory uncertainty amid the increased level of acceptance of cryptocurrencies by common people.
Erik is not new to the cryptocurrency regulatory circuit and possesses a vast amount of experience in handling the regulatory aspect of cryptocurrencies. He brings with him the experience of working in both mainstream financial industry and other segments of the digital economy. Erik played a vital role in building compliance function for Singapore-based bitcoin exchange itBit across the US and Asia.
Prior to working in itBit, he had served as a Senior Compliance Manager at PayPal, overlooking the regulatory and operational compliance for Southeast Asia region. Erik is also a seasoned professional and expert in risk and compliance matters and has held various senior level roles in the banking sector at DZ Privatbank, Commerzbank and ABN AMRO. He was also into conducting workshops and presentations on compliance topics for companies and regulators globally.
George Zarya, CEO of Sequant Capital, said on Erik’s appointment: “Demand for regulated, secure cryptocurrency trading is soaring among the high net worth and institutional clients that we deal with at Sequant Capital. In order to effectively meet the needs of these investors, intermediaries have a responsibility to ensure they are secure, reliable and compliant. Erik is a highly experienced addition to our team and a vital part of our drive to campaign for effective regulation in the marketplace.”
Commenting on his appointment, Erik Wilgenhof Plante, said: “Regulation will continue to play an integral part in the cryptocurrency sector. It’s important in mitigating the risks associated with investing in cryptocurrency and is also a major part in making it a legitimate asset class. A lot of the regulation is already out there, but it’s a matter of applying that regulation to the sector and ensuring firms know what, when and how to prepare. At Sequant Capital I’m planning to build upon the company’s drive for regulation across the sector to bring trust and security to the cryptocurrency world.”
