Stablecoin Issuer TrustToken Appoints Former Coinbase Senior Exec as Head of Compliance

https://picjumbo.com

Former Coinbase senior executive Vaishali Mehta has recently resigned from the exchange to serve as the new head of compliance of stablecoin issuer TrustToken.

Prior to joining TrustToken in December last year, Vaishali Mehta has served as the San Francisco-based exchange’s senior compliance manager for a little over a year.

Founded in a bid to “democratize financial opportunities and unlock capital through the trusted trade of assets worldwide,” TrustToken is the issuer of TrueUSD (TUSD), a stablecoin that has earned its way to Binance’s listing back in May 2018, making it a relatively early entrant alongside other previously introduced dollar-pegged stablecoins launched to go head to head with the market’s leading rival, Tether (USDT).

Aside from working at Coinbase, Mehta has also served as Deutsche Bank New York’s former head of Bank Secrecy Act/anti-money laundering risk and onboarding for more than four years, in addition to taking on a number of key positions at ICICI Bank in India and Sumitomo Mitsui Trust Bank n Japan. Prior to serving compliance roles under the aforementioned banks, she has also worked as one of KPMG’s senior associate for nearly three years.

This would not be the first time the crypto exchange giant has lost a prominent executive, as has been previously reported in the last several months.

In November, Coinbase’s former head of policy has also left his post to join venture capital firm, Andreessen Horowitz. Similarly in October, Coinbase’s fifth-ever employee Adam White has also resigned to take on a key role at Bakkt, the Intercontinental Exchange’s (ICE) soon-to-be-launched digital asset trading platform which, as White believes, possesses a massive potential to drive the crypto industry’s shift from the “retail to the institutional side.”

As dollar-pegged digital assets like TUSD, USD Coin (USDC), Paxos (PAX), as well as Gemini dollar (GUSD) increasingly gain traction in the crypto sphere, major crypto trading platforms have also moved to list fiat-collateralized stablecoins, including Coinbase, Huobi, OKEx, and crypto exchange titan Binance.

As evidenced by a recent study released in December by research firm Diar, in just roughly three months prior to the research’s publication, all of the above-mentioned stablecoins have amassed over $5 billion worth of on-chain transactions.