Tether (USDT) which has gained eminence for being valued at a constant rate of $1, hired a new Chief Compliance Officer who was a former Anti Money Laundering (AML) quality control manager at the Bank of Montreal.
Welcoming the COO on board, Jean-Louis van der Velde, who is the Chief Executive Officer (CEO) of Tether said, “We are all very excited to introduce Leonardo as Chief Compliance Officer (CCO) at Tether, as he joins us on what has already been a remarkable journey to date disrupting the legacy financial system. His depth of experience managing AML risk in capital markets, as well as the wealth management and commercial banking sectors, combined with his proven expertise in quality control management and strategy formulation will make him an invaluable asset to our company.”
“All of us at Tether have every confidence in his ability to oversee and manage all relevant compliance issues as we continue to move forward and grow,” der Velde added.
While working at Bank of Montreal, Leonardo Real, the new CCO was responsible for overseeing the best practices, policies and procedures, which were required, while carrying out AML investigations.
Talking about his appointment, Real said, “Joining Tether as CCO is an an incredibly exciting move for me personally, and I am particularly impressed by the motivation, dedication, and talent of the Tether team. I look forward to helping showcase Tether’s commitment to transparency and regulatory compliance within the blockchain and cryptocurrency space. As a longtime advocate of blockchain technology and the integration of cryptocurrencies into the mainstream, I am looking forward to putting my experience in AML and regulatory compliance in traditional financial institutions to use, to ensure that the Tether project can continue its work disrupting traditional industries.”
Although Tether is known far and wide as a ‘stablecoin’, due to its constant value of $1, unlike other cryptocurrencies, this coin has also seen minimal volatility of (+/- of 50 cents).
Liked what you read? Join us on Telegram