Security Token Academy | Industry Update: Deputy Banking Commissioner Joins Prime Trust

In August 2019, Prime Trust — the digital asset custody and escrow platform — announced the hire of Amanda Ortega as its new Chief of Regulatory Affairs and Compliance. Ortega had previously served as the Deputy Banking Commissioner for the state of Wyoming, a key jurisdiction in establishing cryptoasset-friendly regulation at the state level.

The following is a letter from Prime Trust CEO Scott Purcell announcing the important hire.

I’m pleased to announce that the Deputy Banking Commissioner of Wyoming has left her post to join Prime Trust as our Chief of Regulatory Affairs & Compliance.

As I think you know, at Prime Trust we take two things very seriously:

• Technology to deliver financial services, and,
• Compliance.

Our B2B customers rely on us for these when it comes to KYC, AML, escrow, trust, funds processing and custody. Adding Amanda Ortega to the team puts an exclamation mark on how seriously we take our compliance obligations and reinforces to our customers and our regulators the integrity of our services.

During her 12 years with the Wyoming Division of Banking, Amanda was responsible for the oversight and examination of the state’s banks and trust companies. She led the financial institution examination team to ensure regulatory compliance and the safety & soundness of the state’s financial institutions for the customers they serve.

She was also instrumental in assisting the Commissioner in providing counsel to legislators regarding new banking models in general, and blockchain in particular in what is known as one of the most innovative and progressive states in the country. Her work laid the foundation for the State of Wyoming to become the first to embrace blockchain technology.

Her role at Prime Trust is to ensure overall compliance for the company and our customers; working to see that our financial services are delivered compliantly and with as much automation and minimal friction as possible. She will work closely with our CCO on our BSA program, our wire room team, our security team, our trust officers, customer service, accounting, product and other departments as she ensures that Prime Trust remains the best-in-class provider of compliant, technology-delivered financial services.

Best Regards,

Scott Purcell
CEO, Chief Trust Officer
Prime Trust