Alternative Finances

BitPay Looks To Future With New Exec

Earlier this week BitPay announced that it had named Tim Byun as its Chief Compliance Officer. According to a company statement that Byun began his new duties on June 2 at the Digital Banking Summit conference.

Executive Chairman Tony Gallippi spoke in a company release about the addition of Byun to the BitPay team.

“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,” he said. “For this reason, we hired Tim to set up and maintain our compliance structure.”

Byun will speak for his new company at the bitcoin conference, Bitcoin in the Beltway, in Washington, D.C. from June 20 to June 22.

According to Bitpay, the organization now has 40 employees worldwide. Byun was not the only new hire, the release said. Anjali Kamath, former corporate compliance manager at ClearPoint, is now Bitpay’s general counsel/compliance manager.

Just last month, Bitpay received $30 million in venture capital funding from a group that included Virgin Group Chairman Richard Branson and Yahoo Inc. co-founder Jerry Yang. To date, that is the largest venture capital investment in digital currency.

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