James Freis Joins Moonpay as Special Advisor for Global Financial and Regulatory Affairs

  • Payments , Infrastructure
  • 23.03.2022 04:20 pm

Served Under Three U.S. Treasury Secretaries

Longest Serving Director of U.S. Treasury’s Financial Crimes Enforcement Network

Played Pivotal Role in Uncovering and Stopping One of the Largest Financial Frauds In Germany’s history 

Today MoonPay, the leading global crypto payments infrastructure provider, announces the appointment of James Freis as Special Advisor for Global Financial and Regulatory Affairs. Freis, an advisory lawyer, financial executive and former Director of the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) will provide guidance and support to MoonPay’s executives and global compliance team.

Freis joins MoonPay shortly after its $555 million Series A round, led by Tiger Global Management and Coatue. The funding round saw the business valued at $3.4 billion. At MoonPay, Freis will provide guidance and strategic advice to ensure MoonPay continues upholding the highest standards of financial integrity as it grows. MoonPay currently has 36 Money Transmitter Licenses and is an accredited US FinCEN-registered Money Services Business.

Freis was the sixth and longest serving Director of FinCEN, working under both President George W. Bush and President Barack Obama during his tenure. At FinCEN, Freis expanded the scope of anti-money laundering (AML) regulations, efforts to combat fraud, and spearheaded the implementation of modern data analytics in fighting financial crime. In addition, he was an attorney and central banker at the Federal Reserve Bank of New York and the Bank for International Settlements. 

Most notably, Freis was responsible for disclosing internal fraud at German Fintech payments provider, Wirecard. After exposing one of the largest cases of financial fraud in Germany, Freis went on to become the company’s CEO and helped to initiate a global restructuring. 

Following his time in the United States Department of the Treasury, Freis held the roles of Chief Compliance Officer and Group Anti-Money Laundering Officer at the Deutsche Börse Group in Frankfurt, Germany. Here, he oversaw compliance and regulatory relations for Europe’s largest provider of systemically significant financial market infrastructures. 

Ivan Soto-Wright, CEO and Founder of MoonPay said: “We’re honored to have Jim on the team. His career in driving excellence, as both a financial regulator and as an executive, speaks for itself. As MoonPay works to bring the next billion people into the crypto economy, Jim brings an unparalleled wealth of experience to the business and will be instrumental in helping us continue our growth.”

On his appointment, James Freis said: "Part of the reason I was drawn to MoonPay is because it's innovating at speed while also taking very seriously obligations within an evolving regulatory framework. I'm excited to support the company's vision to expand access to innovative financial services globally, creating value in responsible and compliant ways."

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