DUBAI, UAE, July 2, 2024
/PRNewswire/ -- Backpack Exchange, a fully regulated global
cryptocurrency exchange, today announced that it has
appointed Laurence King to serve as
its Head of Audit, underscoring the exchange's commitment to
transparency and audit integrity across its global operations.
King has nearly 30 years of experience leading audit and risk
functions at global financial institutions. Most recently at
Citibank, he served as Head of Audit for Citibank in various APAC
countries as well as Citibank's APAC Head of Regulatory Engagement,
where he oversaw regulatory audits for Citibank with the Japan
Financial Services Agency, the Monetary Authority of Singapore, the Hong Kong Monetary Authority,
and over a dozen other regulators in the APAC region. Prior to
Citibank, he held senior management roles at various financial
institutions, including Executive Director of IT Regulatory Risk
APAC at Morgan Stanley, Global Head ITGC Audit and APAC Head of IT
Audit at Deutsche Bank, as well as APAC Head of IT Risk at JP
Morgan Chase. His extensive experience includes overseeing complex
audit processes, implementing robust compliance frameworks, and
ensuring operational transparency at some of the world's leading
financial institutions.
At Backpack, he will leverage his decades of experience to
spearhead the exchange's efforts to build out a world-class
internal audit function and oversee its global audit processes,
ensuring that Backpack not only adheres to stringent regulatory
requirements across different jurisdictions, but also enhances its
transparency to users and raises the bar for new audit standards in
the industry.
Armani Ferrante, CEO of Backpack
Exchange, said, "As we have seen in the past few years, inadequate
internal controls at centralized crypto exchanges have
resulted in significant failures, holding back our industry from
gaining user trust and going mainstream. At Backpack, our mission
is to build a crypto exchange that sets new standards
for transparency, auditability, and accountability. Laurence's
appointment demonstrates that we're committed to moving towards
this goal."
King adds, "I am thrilled to join Backpack at this pivotal
moment in its journey. The digital asset space holds tremendous
potential, but it has often been marred by a lack of robust audit
practices and controls. Despite having only launched in
November 2023, Backpack has already
demonstrated a strong commitment to compliance and accountability,
and I am excited to spearhead its efforts to build out our global
audit and compliance frameworks, and help enhance integrity and
transparency in the cryptocurrency industry."
About Backpack Exchange
Backpack Exchange is a fully regulated global
cryptocurrency exchange innovating to build an
innovative, easy-to-use and compliant trading platform for both
experienced and new web3 users worldwide. For more information,
visit backpack.exchange.
The Backpack ecosystem comprises several products and services,
including the popular Backpack Wallet (noncustodial), Backpack
Exchange, a fully regulated global cryptocurrency
exchange with industry-leading speed, security and functionalities,
and Mad Lads, currently the top NFT community in the
Solana ecosystem. Backpack is also the creator and
developer of Anchor, the Solana smart contract
framework, the executable NFT (xNFT) token standard, and more.
Twitter https://twitter.com/Backpack
LinkedIn https://www.linkedin.com/company/backpackexchange/
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SOURCE Backpack Exchange