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Overstock.com’s blockchain subsidiary tZero announced on Wednesday the appointment of Alan Konevsky as chief legal officer (CLO). Konevsky, a former senior VP at MasterCard, will oversee tZero’s legal, regulatory, and compliance functions.
The new CLO will lead tZero’s in-house legal department and will report to CEO Saum Noursalehi. The legal team will continue to manage global regulatory initiatives, product development, strategic transactions, investor relations, corporate governance, commercial contracts, cybersecurity, privacy, and intellectual property.
tZero recently held its security token offering (STO), and Konevsky is expected to deal with investors, customers, and regulators in relation with this matter. Also, the company is ready to launch a security token exchange regulated by the US Securities and Exchange Commission in collaboration with BOX Digital Markets.
Noursalehi commented:
“Given Alan’s vast legal experience, we believe that his insight will be a valuable asset for the problem solving required to create the next generation of capital markets.”
tZERO chief operating officer Ralph Daiuto added:
“We view Alan as a key member of our team, especially considering the global perspective he has gained throughout the course of his career. As blockchain continues to transform global finance at lightning speed, Alan will lead our legal efforts to ensure that tZERO remains at the forefront in an ever-changing environment.”
Before his executive position at MasterCard, Konevsky was managing director and senior counsel at Goldman Sachs’ London branch. He expressed excitement about the opportunity to work on the world’s first regulated STO exchange.
Earlier this week, Medici Ventures, the venture capital arm of Overstock, used security tokens to buy a stake in blockchain startup Chainstone Labs.
Overstock is an online retailer that recently turned to distributed ledger technology (DLT), of which blockchain is the most widely-known type.
Source: CRYPTOVEST (https://cryptovest.com/news/overstocks-tzero-hires-ex-mastercard-exec-to-drive-security-token-adoption/)