Singapore-based itBit announces two senior appointments

Nurdianah Md Nur

Digital currency exchange itBit today announced that it has hired Erik WilgenhofPlante as its Chief Compliance Officer and Robert "Bobby" Cho as its director focusing on U.S. operations.

In his role, Plante will lead itBit's efforts to comply with regulations and engage with governments. He joins from PayPal, where he oversaw all compliance matters for Southeast Asia. Besides having 15 years of experience in law and banking, Plante is a Financial Industry Certified Professional, the network chairman and fellow of the International Compliance Association, and a founding board member of the Singapore chapter of the Association of Certified Anti-Money Laundering Specialists.

"At itBit, regulatory compliance is our number one priority and we pride ourselves on having the highest standards in the industry," said itBit CEO and co-founder Rich Teo. "We welcome Erik's expertise and leadership in compliance as we continue to work with regulators to help develop and cooperate with policies that serve and protect consumers and businesses."

The other hire is Cho, who will be based in New York City. As a director, he will be responsible for itBit'sbusiness developments and new initiatives. Prior to joining the company, Cho spent six years at SecondMarket trading Bitcoin and other illiquid financial products and securities.