BitMEX, one of the largest cryptocurrency trading platforms, has named Angelina Kwan, formerly managing director and head of regulatory compliance for Hong Kong Exchanges and Clearing Limited (HKEX), as its chief operating officer. Kwan, who joins the company as it rides exceptional growth, will work with regulators worldwide to develop rules that will support cryptocurrency’s continued growth.
24 Years of Leadership Experience
Kwan, who will be based in Hong Kong, said she hopes her experience working with regulators worldwide will help her in developing a “constructive dialogue” with regulators, she told the South China Morning Post.
China and South Korea last year banned digital coin sales while other markets such as Hong Kong have not fully regulated cryptocurrency. Norman Chan Tak-lam last month said cryptocurrency trading carries high risk while the city’s investment regulator, the Securities and Futures Commission of Hong Kong, has warned about fraud and manipulation in the cryptocurrency market.
“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,” said Arthur Hayes, BitMEX CEO and co-founder. “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.” Kwan brings vast experience in both regulation and traditional finance, Hayes added.
Kwan, who spent eight years at the Securities and Futures Commission of Hong Kong, brings more than 24 years of experience in leadership roles for financial products in Asia and the United States. She has worked at global financial services firms, covering retail securities trading and asset management.
“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,” Kwan said. “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.”
BitMEX Rides Major Growth
In the third quarter of 2018 alone, BitMEX broke the industry record for 24-hour bitcoin trading volume on two separate occasions.
BitMEX recently occupied Cheung Kong Center’s 45th floor, one of the most expensive offices in the world, with an average per-square-foot rent of $28.66, which is more than nine times that of the $3.18 the company was paying at its previous headquarters in Hong Kong’s Victoria Harbor, a warehouse district. The company’s expansion plans caused it to require the entire floor, rather than the half-floor it had originally intended to occupy.