Nasdaq-listed crypto exchange Eqonex has appointed Jonathan Farnell, a former head of Binance U.K., as its new CEO and a director on the board.

See related article: UK regulator may cancel Eqonex’s registration over Binance, Bifinity ties

Fast facts

  • Helen Hai, president of Binance’s payment arm Bifinity, has also been appointed to the board.
  • The appointments come as Eqonex only last week announced a partnership with Bifinity, granting Bifinity the right to appoint top executives of Eqonex from within the new payment venture.
  • The U.K.’s Financial Conduct Authority (FCA), however, warned that it can suspend or cancel a firm’s crypto asset registration after noticing Bifinity’s partnership with Eqonex.
  • Chi-Won Yoon, chairman of Eqonex, told Forkast in an interview that the statement made by the U.K. financial regulator was a procedural one.
  • Regardless, Eqonex’s unit in the U.K. will indeed give Binance “an opportunity to operate in a fully regulated environment,” Yoon said, adding that besides its custody license, it is applying for a few more licenses in the U.K., including one for crypto trading.

See related article: Binance launches fiat-to-crypto service Bifinity