Ripple’s CISO Leaves Company For Crypto Compliance Startup Harbor
Sujay Jaladi, the Chief Information Security Officer of Ripple, is leaving the company, which is best-known for creating its XRP tokens, which currently sit at the third place by market capitalization in the crypto market.
After leaving Ripple, Jaladi will join a company called Harbor, a new startup that will be focused on providing a compliance platform for private securities issuers which want to use the blockchain technology.
When asked why he was leaving Ripple, Jaladi only stated that the company had “a bright future”, however, he also affirmed that he was very excited about the new opportunities with Harbor and all the impact that the company can have. Jaladi has originally joined Ripple back in May 2017 and no replacement for him was announced until now.
Harbor has already raised about $28 million USD back in April in a strategic funding round led by Founders Fund with Andreessen Horowitz and Pantera Capital, which has helped to fund the initial plans of the company.
The token used by the company will be the R-Token standard which will be compatible with the ERC20 framework, according to the White Paper of the company. It may be used to tokenize assets in real estate, limited partnerships, fine art and other areas.
Jaladi’s new role will be the responsibility for the security strategy and program of the company, which will include establishing processes and procedures across the company. It will be a similar role to the one he had at Ripple, but he has affirmed that his role is even more critical because Harbor is a highly regulated space.
Bob Remeika, Harbor’s CTO, has affirmed that the new employee of the company has a perfect blend of fintech and blockchain experience which will be used to accelerate the efforts of creating a great platform for the clients.