BABB, a socially focussed P2P mobile banking platform that promotes financial inclusion, has appointed a new senior advisory board to strategically guide the company’s ReDeFi project through its next stage of growth.
ReDeFi is a new decentralised finance platform that eliminates many of the traditional barriers to financial inclusion. The project’s three founding board members bring nearly 60 years’ combined knowledge and experience across financial services – including fintech, payments, investment, risk and regulation – as well as corporate management and commercial law. The board has been established as BABB prepares to hard launch ReDeFi’s layer-1 blockchain and Onchain Money concept, with an IDO and token sale also taking place this year.
Heather Butler joins BABB’s advisory board with over 20 years‘ experience in key roles across fintech firms, regulators, and global financial institutions. Heather held roles as COO of the Prudential Regulation Authority (PRA), where she was instrumental in shaping the UK’s new regulatory structure, and Head of Authorisations where she played a significant role in implementing the regulatory regime for new entrants in the banking sector. Her most recent experience includes roles at the Law Society as a Non-Executive Member on the Group Audit and Risk Committee
Dave Vasoodaven joins BABB’s advisory board with over 20 years’ experience as a leading commercial lawyer and cross-border investment specialist, having successfully concluded many high-profile appeal cases across the UK’s courts. In addition to his practice, Dave is both a member of the Malaysian Bar and International Lawyers Association, and serves as Secretary-General of the ASEAN-UK Business Forum in the UK.
Eduardo Gavotti joins BABB’s advisory board with more than 15 years of experience in financial services between Latin America, Europe and the UK including in banking, brokerage, asset management, online trading and payments. Gavotti is an Associate Member of the Chartered Institute for Securities and Investment (CISI) and has served as an ‘Approved Person’ and Senior Manager at FCA-regulated investment firms and payment institutions. He has also served as regulatory advisor for a number of companies in the UK and overseas.
The appointment of Butler, Vasoodvaven and Gavotti follows BABB’s recent soft launch of ReDeFi, and the Onchain Money concept at the heart of the platform. Onchain Money operates as a first-of-its-kind tokenised deposit system, offering a blockchain-based representation of fiat currencies like GBP but, unlike stablecoins, directly mirroring funds in traditional bank accounts without necessitating token issuance.
BABB also recently participated at Web Summit Qatar, where founder Rushd Averröes showcased ReDeFi’s vision of a more transparent, efficient and affordable financial system to private sector and government stakeholders.
Rushd Averröes, Founder and CEO, BABB and ReDeFi, said: “Heather, Dave and Eduardo represent exceptional appointments and, just like the ReDeFi platform itself, their experience is a combination of the old and the new. Their insights into and deep passion for all things fintech and regulation will prove invaluable moving forward as we prepare to hard launch ReDeFi and Onchain Money.”
About BABB
Founded in 2018 with the conviction that access to financial services is a basic human right, BABB is on a mission to forge a financially inclusive world. With roots in aiding Yemen amidst its socio-economic challenges, our app is the cornerstone of a vision that promises safety, security, and efficiency in financial management and transfers. This blueprint for Yemen is the foundation for our global expansion, aiming to be the World Bank for the microeconomy. Our diverse, global team is united in this cause, driving transparency, accountability, and innovation to ensure financial inclusion becomes a reality. https://getbabb.com/
About ReDeFi
Regulated Decentralised Finance is an FMI platform, designed with the vision to democratise access to financial services globally. By leveraging the power of blockchain technology, ReDeFi is committed to dismantling the high costs associated with money usage and cross-border fees, heralding a new era of economic growth and resource accessibility. Our ethos is to carve a regulation-friendly and decentralised monetary system that is not only fair but within reach of all, ensuring equitable opportunities for both individuals and institutions. https://redefi.world/