Angelina Kwan, who is former managing director and head of regulatory compliance for Hong Kong Exchanges and Clearing Limited, has been recently named as a chief operating officer of BitMEX.
BitMEX is a massive cryptocurrency trading platforms. On this note, Arthur Hayes who is CEO and co-founder of BitMEX stated that “I believe Angelina’s decision to join us is a signal that the global markets are shifting focus to the rapidly-expanding domain of crypto-coins”. He further added, “Angelina’s vast experience in regulation, trading platforms, business development, restructuring, and investor and stakeholder relations will be pivotal as we continue the push towards mainstream cryptocurrency adoption and broaden our community”
Here, Kwan will function with regulators all over the world, to evolve rules that will support cryptocurrency’s continued growth. With that, she is aimed to utilize her experience of working with regulators worldwide to establish a “constructive dialogue” with regulators, according to the South China Morning Post.
Notably, Kwan has spent quite a long span of eight years at the Securities and Futures Commission of Hong Kong, also has more than 24 years of experience as a leader for financial products in Asia and the United States and now will be based in Hong Kong. Additionally, She has worked at global financial services firms, including retail securities trading and asset management.
Amid this, Kwan said, “My most memorable accomplishments — from successfully restructuring and relisting a bankrupt financial services company, spearheading the establishment of new operations or companies, to serving on a number of boards and committees — have been joining organizations that are at the cusp of making a major breakthrough, so it’s with a sense of great excitement that I take on the challenge of driving BitMEX to new market heights.” She added, “In addition to being a true market leader among trading platforms, BitMEX shares my value of gender inclusion, particularly in STEM fields. Cryptocurrency markets present an exciting new opportunity for women to get involved in the intersection of finance and technology, two fields in which they are chronically under-represented.”
If we talk about regulations, China and South Korea last year banned digital coin sales, at the same time Hong Kong has not completely regulated cryptocurrency. Last month, Norman Chan Tak-lam spoke that, cryptocurrency trading conducts high risk. Also, the city’s investment regulator, the Securities and Futures Commission of Hong Kong, has alerted about fraud and manipulation in the cryptocurrency market.
Having a look on the significant growth of BitMEX, it has recently settled in Cheung Kong Center’s 45th floor, which is one of the costliest offices in the world, having an average per-square-foot rent of $28.66. Previously, the company was paying $3.18 at its headquarters in Hong Kong’s Victoria Harbor, a warehouse district. The company intended to occupy half of a floor, but due to expansion, it requires a whole floor for the office.
Apart from that, BitMEX exceeded the industry record for 24-hour bitcoin trading volume on two separate occasions, in the third quarter of 2018.