Leigh Travers, the former head of the world’s first publicly listed blockchain firm, DigitalX, has been onboarded as the new CEO of Binance’s Australian subsidiary.
Binance Australia, the leading fiat-to-crypto platform for trading cryptocurrencies in Australian Dollars (AUD), made the announcement through a blogpost on the company’s website.
According to the post, Leigh Travers has spent the last seven years playing a significant role in building products and growing networks for DigitalX Limited, the world’s first publicly listed blockchain technology company that was listed in June 2014. Prior to joining DigitalX Limited, he served on the Board of Australia’s local blockchain industry body, Blockchain Australia.
What Leigh Travers said about the new appointment
The newly appointed CEO expressed how he intends to grow the Binance brand and strengthen the company’s relationship with regulators.
“I have immense belief in the quality of service Binance Australia provides customers, and I want to ensure that every Australian looking to invest in cryptocurrency considers our offering.
“From an industry perspective, I know it’s imperative that we continue to develop our relationships with regulatory bodies while reinforcing our company commitment to compliance and best practice. As the market leader in the digital asset space, we have a responsibility to be involved in helping to shape the growth of our industry and this means prioritizing engagement and conversations with policymakers and regulators.
“It is essential to advocate for a graduated, fit-for-purpose regulatory framework so that Australia can be a global leader in innovation and create jobs for the future economy,” he stated.
What you should know
Binance Australia was launched in July of 2020. Binance’s Australian subsidiary is operated by InvestbyBit, a local digital asset exchange regulated by the Australian Transaction Reports and Analysis Centre (AUSTRAC) that launched in September 2017.
According to the Australian Business Register, InvestbyBit rebranded to Binance Pay on February 22 of 2019, before changing its name to Binance Lite four days later, and again rebranding to Binance Australia on August 6, 2020. This announcement comes as earlier this month, Binance extended restrictions to derivatives trading from within the country following intense scrutiny from regulators worldwide.
Also, there are worries as to whether or not Travers would stay on for the long term in Binance. These worries come as former CEO of Binance’s U.S. arm, Brian Brooks, quit the company earlier this month after just four months on the job and the former CEO of Binance Australia, Jeff Yew, who left the company in April to set up a crypto-focused asset management company, targeting superannuation funds and high net worth individuals.
Yews stated in an interview with Sydney Morning Herald, barely a month after leaving Binance Australia, that Australia’s lawmakers have failed to provide the digital asset sector ample regulatory clarity.
Binance’s native token, BNB is trading at $475, down 1.76% for the day.