Blockchain Startup Envoy Hires Three New Advisors In Countdown To Pilot Phasebr>
Envoy Group has appointed Arzu Toren, Thomas Reeves and Jimmy Chang as advisors to its team as it approaches the pilot phase of its trade finance platform and the launch of the NVOY token.
The Envoy platform, which will use blockchain technologies to bring massive efficiencies to global supply chain and trade finance, is soon entering its pilot phase. The platform is built on enterprise software firm R3’s Corda blockchain platform, and aims to accelerate the $17 trillion annual global trade flows into the digital age by reducing inefficiencies and injecting vital once unattainable liquidity. Following the finalization of technical partnerships, the Envoy pilot phase will be officially announced with the launch of its NVOY token, which will enable a cross-border payment solution and act as a key driver of trade on its trade finance platform.
Toren is a global banking and blockchain transition professional. She is the founder of Aren Strategy Ltd, a management strategy firm based in London. Prior to founding her business, she has carried out positions in international and Turkish commercial banks for 20 years where she executed trade finance products, asset management, debt instruments and business development with progressive growth and profitability. She provides strategic solutions for the blockchain eco-system by combining her expertise and experiences in banking with her academic studies on blockchain.
Reeves brings to the team over 25 years’ experience of risk and business management in financial markets. He has held senior risk management roles at Citi and Lloyds, and been responsible for many major risk, regulatory and governance projects. As Head of Credit Risk for Citi’s Global FX and Local Markets Business, he was responsible for developing and managing the real time credit risk management and margin trading platforms. He has overseen trading and sales businesses and both 1st and 2nd Lines of Defence, providing direction across market, credit, conduct, operational and regulatory risk.
Chang has worked with Fortune 100 companies and brings extensive alternative finance experience with him, as well as a background spanning 15 years in the corporate finance sector. Since then, he has had multiple successes helping start-ups with financial modelling and risk. He will be advising on Envoy’s operations as it targets business in Latin America, North America, Africa and Europe.
“Arzu, Tom, and Jimmy are joining us at an exciting point in Envoy’s journey,” said Lee Tarone, Founder & CEO of Envoy. “We have a growing team made up of trade and finance experts; each new advisor is an excellent addition and asset for supporting us as we move the business towards its next phase. Global trade is in very troubled waters. Covid-19 has broken trade finance processes which were already inefficient, and banks are becoming increasingly risk averse. Unfortunately, it’s the SMEs who don’t have the balance sheets to survive which are hit the hardest. We are coming to market with an effective solution which will connect alternative finance sources to these businesses, while digitising a lot of the processes currently dominated by paper and rubber stamps. By de-risking trades and connecting them to finance, the global economy will begin to recover – and in time, thrive.”