Digital asset firm Arca has announced two appointments, according to a company release. Arca reports that Vance Sanders has joined the company as Chief Financial Officer and Chief Compliance Officer, and Nikesh Dalal has joined as Head of Product for Arca’s innovation division, Arca Labs.
Sanders formerly served as Chief Financial Officer, Chief Technology Officer and Chief Operations Officer of Equinox Financial Group, LLC. He also served as Treasurer/Principal Financial Executive of the Equinox Funds Trust.
Dalal was recently a Program Director at Yieldstreet where he helped to launch a registered Closed-End Fund and evaluated blockchain solutions. Previously he was a Solutions Architect focused on Enterprise use-cases with blockchain software firm ConsenSys.
Arca CEO Rayne Steinberg said:
“We are thrilled to have Vance on board and for the opportunity to tap his experience with alternative investments. Arca continues to attract strong and growing investor and distribution partner interest during this exciting phase of our expansion, and Vance will be critical to helping us pursue new opportunities in digital assets and continually evaluate the strategic landscape.”
At Arca Dalal will work to design and launch digital securities for investors and enterprises, integrate the ecosystems that surround them, and bring innovative, first-to-market digital securities that still work within today’s regulatory structure.
Jerald David, President of Arca Labs, said that adding a professional like Dalal will allow them to deepen their bench as they continue to innovate their digital assets product suite.
“His cross-industry and blockchain experience combined with his fund assembly knowledge will further our mission to bring trust, transparency and efficiency to digital securities for institutions and investors,” said Jerald David, President of Arca Labs.
Arca says it had a banner year. In early January, Arca announced it had raised $10 million in Series A funding. Last year, its hedge fund doubled its assets every quarter, and new investor products are anticipated in Q1.
In December of 2020, Arca Labs entered into partnerships with custodians Anchorage, Gemini, Komainu, Ledger and TokenSoft to support ArCoin, the digital shares issued on the blockchain by investing in the Arca US Treasury Fund. The Fund is registered under the Investment Company Act of 1940.