BlockFi, a provider of crypto-backed lending products, has hired former trader at Bank of America Merrill Lynch and fintech entrepreneur Rishi Ramchandani as director of business development, Asia.

Ramchandani, who will be based in Singapore, is the latest of a growing list of banking executives from traditional financial companies that have transferred to the crypto industry. Ramchandani spent more than a decade at US investment bank Bank of America Merrill Lynch in both New York and Hong Kong where he was responsible for algorithm trading support to the Hong Kong portfolio trading desk and global clients trading in the Asia Pacific region. He relocated to Singapore in 2018, and co-founde

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