Trade.io Seeks the Services of a Finance Expert with Its Swiss VQF License
Trade.io is a Swiss-based blockchain startup. The platform hails itself as a financial institution for future generations. The company has retained the services of a top financial expert to help it with its VQF license.
Arnaud is a renowned financial executive who was recently hired to join the board of directors at Trade.io. He is expected to provide valuable input that will help the platform get a VQF license, which is traditionally provided by the Financial Services Standards Association of Switzerland.
The regulation is mandated with regulating the financial sector in the country and has been approved by FINMA (the Financial Market Supervisory Authority), which also happens to be the official financial watchdog in the country. The press release sent out to the public by the platform indicated that this license is meant to provide an assurance to its users that it has complied with all the anti-money laundry policies and laws instituted by the Swiss authorities.
Barray has an extensive experience in the industry as he has worked with leading financial institutions such as Standard Chartered, BNP Paribas, and Barclays bank. According to information publicly available on his LinkedIn profile, he is presently working as a commercial scout for a consultancy firm headquartered in Geneva.
During the announcement, he stated that he was excited to be joining the board of directors at trade.io and was looking forward to assisting the platform move to the next level by acquiring the VQF license. He went on to state that he was confident that he could pull this off by leveraging his contacts and impeccable experience in the financial sector.
Barray told the board that he was confident that he could make a difference in the company. He was hopeful that he would finally be able to deliver the platform to the masses as they have been waiting for this authorization for a very long time.
The platform was formally launched at the end of last year. In December 2017, trade.io was officially united with Bancor, before going ahead to raise more than thirty million dollars in its initial coin offering in January of this year. A few months later, the company introduced its crypto-to-crypto exchange to the public. The introduction was done in mid-July 2018.
However, the company would a few months later experience a setback in the month of October when millions of dollars got stolen from its cold wallet. What surprised the public was the fact that the offline wallet had been stored in a safety deposit box at a local bank, but the company stated that the deposit box had not been compromised during the theft.
Trade.io managed to successfully track the money that had been stolen from its bank safety deposit box. It went on to freeze the money which meant that the thieves only managed to get away with a very small amount. But although some of the money was not recovered, the thieves could not be able to use it in any way.