BTC Markets, the biggest cryptocurrency exchange in Australia has hired David Raper and Garry Duursma in their advisory board.
The Australia-based crypto exchange giant has revealed that it has appointed former senior officials from ASX and Tyro to their advisory board to further advance the capabilities of the exchange. BTC Markets has quite the clientele, where 325,000 users in Australia have used the platform to trade more than AU$ 17.1 billion.
Caroline Bowler, CEO of BTC Markets said that the newest addition to the advisory board will further the plans for the market expansion of BTC Markets, and after a long while of looking for suitable candidates, finally, the advisory board can securely move forward on their expansion plans.
Traditional finance has been the forte of the two new board hires, where apart from working at MasterCard, Duursma has also worked at Tyro for 7 years. Bowler expects that Duursma’s skills in payment systems will help the exchange satisfy the demands of its growing client base, and to make their transition from fiat to crypto as smooth as possible.
David Raper has previously worked on senior levels at SFE corporations and J.P. Morgan and has worked at ASX for 15 years, making him uniquely qualified to constructively contribute to the expansion vision with extensive experience in traditional finance. Bowler commented on Raper’s experience by stating that “Mr. Raper’s experience in the ASX is not just for retail clients, it’s also heavily on the institutional side. And for us, that’s the trend that we’re looking to capture.”
Bowler has also pointed out that the new board-appointed executives will be imperative in further developing some new projects and undertakings that the exchange platform aims to finalize, which also involve “payment channels and moving to a third-party custody solution.” Moreover, BTC Markets aims to enhance the number of coins available to its clients as it moves from the fourth quarter of 2021 to the first quarter of 2022.
While she did not disclose further details at the time being for some developing partnership projects of the exchange platform, Bowler stated that this is where both execs are uniquely qualified in their experience to help execute these projects in the future.
Following the release of Senator Andrew Bragg’s report on Australia as a Technology Center, which urged for stronger control in the cryptocurrency industry, the revisions come due to the rising need for regulatory scrutiny and oversight in Australia.
Despite the possible obstacles that regulation may put forth for BTC Markets, Bowler confidently stated that BTC Exchange is quite excited about the prospect of regulation. Raper and Duursma, she continued, are both equipped to handle the necessitated reporting duties and various compliance procedures that the exchange platform will have to implement.
Bowler also shone a light on the fact that both executives are so accustomed to working in a space that is completely regulated and this is critical to BTC Markets because many new releases will be essentially built from scratch, so to have such experts at their disposal is truly priceless.