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Former DigitalX Executive Appointed As The New Binance Australia CEO

The former executive of the first blockchain listed publicly is now the current CEO of Binance Australia. The exchange announced Leigh Travers’s appointment. The new CEO was formerly the chief executive of DigitalX, a locally known blockchain technology and payment enterprise.

Leigh Travers served seven years at DigitalX. He also served as a board member in Blockchain Australia, the local leading blockchain sector body. DigitalX broke records as the first publicly-listed blockchain organization in June 2014.

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This announcement was made after the firm completed the reverse takeover of Macro Energy Ltd, an Australian Stock Exchange-listed Firm.

Travers Reaction To The New Office

Leigh Travers disclosed that his priority is to build relationships for Binance Australia with regulators. Also, he emphasized that he aims to grow Australia’s brand.

He stated that the company has a special part to play: to become involved in assisting in structuring the industry’s growth. That is why; they need to prioritize conversations and engagements with regulators and policymakers, says Travers.

In his speech, Travers added that “looking from the industry’s viewpoint, I’m aware that it is essential to continue developing the sector’s relationship with the regulatory bodies. Also, we need to strengthen Binance Australia’s dedication to compliance as well as best practice.

Binance Australia Launch

July 2020 brought the official launching of crypto exchange Australia. Meanwhile, InvestbyBit operates the Australian Binance subsidiary.

InvestbyBit is a locally operating digital asset platform that AUSTRAC (Australian Transaction Reports and Analysis Centre) regulates. The platform went into operations on Sept. 2017.

As we gathered from the Australian Business Register reports, on February 22, 2019, InvestbyBit was rebranded to Binance Pay. Four days later, it changed its brand to Binance Lite. Then, again on August 6, 2020, the company undertook another rebranding to become Binance Australia.

In April, Jeff Yew, the former CEO of Binance Australia, resigned from the company. After leaving Binance Australia in April, Jeff launched Monochrome in May. Monochrome is a unit trust which targets funds as well as high net worth persons.

In his speech at Sydney Morning Herald last May, Leigh Yew expressed that Australia’s policymakers failed in their duty to deliver sufficient regulatory clarity to the digital asset zone.

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Thus, he calls for higher regulation in crypto trading exchanges. Most especially since many retail investors and institutions now admire digital assets like Ethereum and bitcoin.

The cryptocurrency market is following an uptrend on the daily chart | Source: Crypto Total Market Cap on TradingView.com

Yew acknowledged that Australia is more up-to-date with its regulations as compared to other economies. However, there is the need to work harder on regulation to stop dodgy operators from exploiting everyday investors.

Featured Image From Pixabay, Chart From TradingView.com

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