1Money Network builds leadership team with execs from OKX, Binance and Ripple
1Money Network, a newly-launched stablecoin payments start-up based in the US, has unveiled a new executive team following a $20 million seed funding round closed in January.
1Money Network announces new executive team
The additions include Chris Lalan as chief legal officer and corporate secretary, Kristen Hecht as chief compliance officer (CCO), and Brett Enclade as chief information security officer (CISO).
Lalan joins from crypto exchange OKX, where he “advised on global expansion and related licensing, corporate, policy, and regulatory matters” as deputy general counsel, according to 1Money. Prior to this, he led the product and regulatory legal teams as associate general counsel at blockchain firm Circle.
Hecht brings nearly two decades of experience to 1Money, and previously served as deputy CCO to Binance, a position where she is said to have supported the trading platform’s “resolution with the US government“, which notably saw the resignation of founder and CEO Changpeng Zhao. Before Binance, Hecht notably worked at Meta as CCO, led compliance programmes for blockchain infrastructure platform Paxos, and headed financial crime compliance at HSBC China.
Enclade, a cybersecurity engineer, joins directly from Ripple, where it’s said he “scaled the information security organisation, strengthening governance, risk management, compliance, and operational capabilities” as CISO.
The three new appointments will report to 1Money co-founders Brian and Matt Shroder, who serve as CEO, and president and COO, respectively.
Having emerged from stealth in January with the backing of Galaxy Ventures, Tribe Capital, Kraken Ventures, MoonPay Ventures and Borderless Capital, among others, the start-up claims to be building “the world’s first Layer 1 payments network exclusively for stablecoins“.
The network supports instant confirmations, transaction fees payable in stablecoins, and compatibility with various fiat currencies, aligning with its mission of “making stablecoin payments accessible and user-friendly for everyone”, as stated on the company’s website.
