Tether has appointed Simon McWilliams as its new Chief Financial Officer, the company announced on Monday. This move signals the company’s commitment to undertaking a complete financial audit.
McWilliams, a finance veteran with over two decades of experience leading large investment management firms during audits, will guide Tether in its commitment to transparency and regulatory compliance, the company stated. He takes over from Giancarlo Devasini, who will transition to the role of chairman.
Tether has become a major player in the growing market for stablecoins. These digital currencies are designed to hold a consistent value by being pegged to traditional currencies. Stablecoins allow users to easily move money between cryptocurrencies without worrying about price fluctuations.
