Coinbase Exec Joins Stablecoin Issuer TrueUSD as Head of Compliance
<p>A former senior employee at U.S. crypto exchange Coinbase has left the industry giant to join stablecoin issuer TrustToken as head of compliance.</p>
<p><p>A former senior employee at <a href="https://cointelegraph.com/tags/usa">United States</a> crypto <a href="https://cointelegraph.com/tags/cryptocurrency-exchange">exchange</a> <a href="https://cointelegraph.com/tags/coinbase">Coinbase</a> has left the industry giant to join <a href="https://cointelegraph.com/tags/stablecoin">stablecoin</a> issuer TrustToken as head of compliance, according to the company’s official <a href="https://www.trusttoken.com/careers.html" rel="nofollow,noopener" target="_blank">website</a> Jan. 4.</p><p>Vaishali Mehta, whose LinkedIn profile indicates she served just over a year as senior compliance manager at the major San Francisco-based exchange, reportedly <a href="https://www.linkedin.com/in/vaishali-mehta-99334253/?trk=aff_src.aff-lilpar_c.partners_pkw.10078_net.mediapartner_plc.Skimbit%20Ltd._pcrid.449670_learning&veh=aff_src.aff-lilpar_c.partners_pkw.10078_net.mediapartner_plc.Skimbit%20Ltd._pcrid.449670_learning&irgwc=1" rel="nofollow,noopener" target="_blank">joined</a> TrustToken in December 2018.</p><p>Trust Token is the issuer of TrueUSD (<a href="https://coinmarketcap.com/currencies/trueusd/" rel="nofollow,noopener" target="_blank">TUSD</a>), which has been <a href="https://cointelegraph.com/news/island-of-stability-stable-coins-keep-attracting-big-league-investors">listed</a> on top crypto exchange <a href="https://cointelegraph.com/tags/binance">Binance</a> as of last May. The listing makes it a relatively early entrant <a href="https://cointelegraph.com/news/winklevoss-brothers-launch-fiat-backed-stablecoin-after-new-york-regulators-green-light">amid</a> the increasing <a href="https://cointelegraph.com/news/report-stablecoins-see-significant-growth-in-adoption-over-recent-months">number</a> of <a href="https://cointelegraph.com/news/pax-stablecoin-exceeds-5-billion-in-transactions-in-first-3-months">new</a> stablecoins notionally pegged 1:1 to the United States dollar — all of which are vying to compete with stalwart market leader Tether (<a href="https://coinmarketcap.com/currencies/tether/" rel="nofollow,noopener" target="_blank">USDT</a>).</p><p>Mehta’s LinkedIn profile further details her background as head of BSA/AML (Bank Secrecy Act/anti-money laundering) risk and onboarding at Deutsche Bank’s offices in New York over a period of four years, as well as compliance roles at Japan’s Sumitomo Mitsui Trust Bank and India’s ICICI Bank, also in New York. Prior to this, she reportedly worked as a senior associate at Big Four auditor KPMG for almost three years.</p><p>While Mehta’s move is testimony to the increasing prominence of stablecoin projects in the cryptocurrency space, other Coinbase veterans have taken steps that equally take the measure of wide-ranging changes in the sector.</p><p>In October, Adam White — Coinbase’s fifth-ever employee — left the exchange for a new role at Intercontinental Exchange’s (ICE) forthcoming digital assets platform <a href="https://cointelegraph.com/news/nyse-operator-announces-new-global-digital-assets-platform-plans-bitcoin-futures-launch">Bakkt</a>. Speaking of his move at the time, White said he believed that ICE’s new venture will be the catalyst for a shift in cryptocurrency interest from the “retail to the institutional side.”</p><p>This November, Mike Lempres — former head of policy at Coinbase — also left the exchange to work at <a href="https://cointelegraph.com/news/coinbase-raises-300-million-in-new-funding-round-to-accelerate-cryptocurrency-adoption">pro-crypto</a> investment giant <a href="https://cointelegraph.com/tags/andreessen-horowitz">Andreessen Horowitz</a>.</p><p>As reported, alongside Binance, other major crypto exchanges such as <a href="https://cointelegraph.com/news/fifth-largest-crypto-exchange-huobi-lists-four-usd-backed-stablecoins-following-okex">Huobi</a>, Coinbase and <a href="https://cointelegraph.com/news/third-top-cryptocurrency-exchange-okex-lists-four-stablecoins-at-once">OKEx</a> have swiftly moved to list multiple fiat-collateralized stablecoins — USD Coin (<a href="https://coinmarketcap.com/currencies/usd-coin/" rel="nofollow,noopener" target="_blank">USDC</a>), Paxos (<a href="https://cointelegraph.com/tags/paxos">PAX</a>), <a href="https://cointelegraph.com/tags/gemini">Gemini</a> dollar (GUSD), as well as TUSD — on their platforms.</p><p>According to an analysis from research firm Diar <a href="https://cointelegraph.com/news/report-stablecoins-see-significant-growth-in-adoption-over-recent-months">released</a> in December, all four of the aforementioned stablecoins had reportedly broken the $5 billion mark in on-chain transactions within the three months prior to the study’s publication.</p>
Posted from my blog : https://cryptotodays.com/coinbase-exec-joins-stablecoin-issuer-trueusd-as-head-of-compliance/
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