Former Visa Exec Tim Byun to Join BitPay as Chief Compliance Officer

Bitcoin payment processor BitPay is growing fast, now with over 41 employees worldwide. The latest to join their team is Tim Byun, who comes from a rather big name in the world of making payments, Visa Inc.

Photo: BitPay/Twitter

Photo: BitPay/Twitter

Atlanta, Georgia-based BitPay the world leader in business solutions for the Bitcoin digital currency has announced today that Tim Byun will join company as a Chief Compliance Officer.

Tim Byun is the former anti-money laundering and anti-terrorist financing officer of Visa Inc. Mr. Byun worked as a Visa executive from the beginning of 2009, he also worked the Federal Reserve Bank of San Francisco and the Federal Deposit Insurance Corporation (FDIC).

Tony Gallippi, BitPay executive chairman, made comments regarding his new role:

“As the bitcoin industry continues to grow, BitPay wants to ensure that our policies and procedures fall inline with various state, federal and international regulations. For this reason, we hired Tim to set up and maintain our compliance structure.”

There has been a notable increase in talent acquisitions at the company and in the bitcoin industry in general. For instance, Facebook’s Ben Davenport announced that he resigned from his place at the social networking giant and would take a new position at the Bitgo.

Moreover, Tim Byun will also give a new public face to the company, as he made presentations on behalf of Visa at such conferences as the annual International Anti-Money Laundering and the National Forum on Prepaid Card Compliance.

BitPay specifies that Mr. Byun will represent the company later this month, June 20-22, during his speech at the bitcoin conference in the Beltway, a Washington, DC.

The attendants of the conference will include Overstock CEO Patrick Byrne, Andreas Antonopoulos from Blockchain and others.

At the moment, Bitpay has more than 40 employees all over the world, but the company has indicated that its Series A funding will make it possible to expand the number and bring 70 new vacancies.

Moreover, the company also found and brought in a new General Counsel and Compliance Manager Anjali Kamath. Kamath is a former ClearPoint Corporate Compliance manager. She also served as Chief Compliance and Legal Officer for five years at Lindner’s Capital Advisors. Inc.

Furthermore, BitPay has hired eight interns for the summer period: Chris Ernst, Gabe Gattis, Osama Sakhi, Bennett Tullos, Shivani Negi, Pat Riley, Evan Lahurd, and Mallika Sen.

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