Geneva, Switzerland - The Libra Association, an independent member organization, today announced the appointment of Sterling Daines as its Chief Compliance Officer. Mr. Daines has been a leader in the financial crime compliance industry, primarily focused on anti-money laundering, sanctions, anti-bribery, fraud and anti-corruption measures in both the public and private sectors. Mr. Daines is currently a Managing Director and Global Head of Financial Crime Compliance at Credit Suisse, a global wealth manager, investment bank and financial services company founded and based in Switzerland. He will step down from his role at Credit Suisse and join the Libra Association later this year.

"I am pleased to join the Libra Association as it works to transform the digital payment space to empower billions of people," said Mr. Daines. "A critical element of achieving this mission is to ensure we are building a safe, compliant, and reliable platform for all users, which I look forward to significantly contributing to."

Previously, Mr. Daines served as Managing Director and Deputy Head of Financial Crime Compliance at Goldman Sachs. Prior to this, he held positions as a principal in the Forensic and Dispute Services practice at Deloitte Financial Advisory Services, LLP and as the leader of Deloitte’s U.S. forensic Data Analytics practice. Mr. Daines has also worked as a consultant to institutions including the U.S. Department of Justice and the Financial Crimes Enforcement Network (FinCEN).

“I am thrilled that Mr. Daines will be joining the Libra Association as our Chief Compliance Officer,” said Robert Werner, General Counsel of the Libra Association. “Mr. Daines is a world class compliance leader and will bring critical expertise to the project.”

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https://libra.org/en-US/updates/CCO-announcement/

We have initiated the formal payment system licensing process with FINMA and updated our white paper to reflect key design changes to the Libra payment system.

https://libra.org/en-US/white-paper/

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As online commerce becomes increasingly borderless, it’s easy to forget that payments and the value exchange of goods are not a solved problem everywhere. Much of the world’s financial infrastructure was not built to handle the scale and needs of internet commerce.

Our mission is to make commerce better for everyone and to do that, we spend a lot of our time thinking about how to make commerce better in parts of the world where money and banking could be far better. That’s why we decided to become a member of the Libra Association. This is one step, but not the only step we’ll be taking to be a part of the solution to this global problem.

As a member of the Libra Association, we will work collectively to build a payment network that makes money easier to access and supports merchants and consumers everywhere.

Our mission has always been to support the entrepreneurial journey of more than one million merchants on our platform. That means advocating for transparent fees and easy access to capital and ensuring the security and privacy of our merchants’ customer data. We want to create an infrastructure that empowers more entrepreneurs around the world.

We’re excited to be part of the Libra Association and look forward to how the project may improve commerce everywhere.

Source: https://news.shopify.com/shopify-joins-libra-association