More Regulators Join Fortress Trust Company For Web3 Infrastructure

LAS VEGAS, Aug. 2, 2022 /PRNewswire/ -- Fortress Trust Company, a wholly-owned subsidiary of Fortress Blockchain Technologies, welcomes Joe Mulberry to its executive team as EVP of Regulatory Licensing.

Joe joins Fortress after 30 years of government service at the Wyoming Banking Division where he served as Deputy Commissioner and most recently as Interim-Banking Commissioner. While at the Banking Division, Joe's primary duties were to supervise all money transmitters and non-bank consumer lenders. "Joining Fortress Trust Company is a unique opportunity to be at the forefront of Web3 infrastructure with a team committed to compliance, innovation and equal access to scalable financial and regulatory infrastructure." said Joe Mulberry.  

"As the regulation of cryptocurrencies in general, and fungible and non-fungible tokens in particular continues to evolve, it is key for industry leaders to ensure the convergence of compliance with innovation in building the future of finance," said Albert Forkner, CEO of Fortress Trust. "I've worked with Joe for several years and he shares our commitment to regulatory compliance and respect for state regulatory oversight over banking, trust services, money transmission and tokenized assets. He is another amazing addition to the growing Fortress Trust team!"

Recent news of assets being locked or subject to third-party claims due to bankruptcies, as well as a new wave of crypto legislation only highlight the need for regulated trust infrastructure. Only in this structure are assets protected from seizure and regulatory compliance ensured. This is the reason that the team at Fortress Trust has been built with a deep regulatory bench so it is poised to provide this infrastructure to this rapidly emerging industry.

Another recent regulatory hire includes Tudor Prisneac who leads the Fortress Trust Financial Intelligence Unit. Tudor's regulatory compliance background started in Europe at the financial intelligence unit of the Republic of Moldova, where he conducted investigations related to fraud, corruption and other predicate offences reported by banks, money services businesses and other reporting entities. He is a member of the Board Member for the ACAMS Southern Nevada Chapter.

"Web3 will utterly transform the world as every asset imaginable is digitized and placed on the blockchain", said Scott Purcell, Founder & CEO of Fortress Blockchain Technologies, "Like the dawn of the internet, today's marketplaces, neo banks and other market participants need purpose-built financial, regulatory and technology infrastructure so they can create frictionless customer experiences and scale their businesses. With our embeddable wallet technology, API-minting engine, payments and trust services, we offer the next generation of innovators the tools and technology to quickly launch and seamlessly scale."

Fortress Blockchain Technologies is a software development firm and holding company that is purpose-built to create financial, regulatory and technology infrastructure for the rapidly emerging Web3 space. Fortress Trust Company is a wholly-owned subsidiary of Fortress Blockchain Technologies and is a full-retail Nevada-chartered financial institution. 

SOURCE Fortress Blockchain Technologies