FCA-regulated, cryptocurrency-focused broker Sequant Capital has appointed former PayPal veteran Erik Wilgenhof Plante who takes on the position of its chief compliance officer.
Plante will lead Sequant’s efforts to comply with regulations and strengthen its credibility in the cryptocurrency industry. He brings expertise from the mainstream financial industry and other sections of the digital economy to the UK-based brokerage firm.
Erik was instrumental in building the compliance function of Singapore-based bitcoin exchange itBit across the US and Asia. Back in 2015, itBit was the first Bitcoin exchange in history to receive regulatory approval by the Department of Financial Services in New York.
Prior to itBit, he served as a Senior Compliance Manager at PayPal where he oversaw regulatory and operational compliance for Southeast Asia. Plante is also a seasoned expert in risk and compliance, where he held senior roles in the banking sector, including stops at DZ Privatbank, Commerzbank and ABN AMRO. He has also conducted numerous workshops and presentations on compliance topics for companies and regulators worldwide.
Plante joins Sequant as the virtual asset class is still catching up with the level of service and regulations that are so well established in the world of traditional trading.
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.”
George Zarya, CEO of Sequant Capital, added: “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.”