Melio, a leading B2B payments platform for small businesses, announced the appointment of Nicholas Passarelli as its Chief Compliance Officer (CCO), charged with leading compliance across all corporate operations and supporting Melio’s rapid growth.
In his role, Passarelli will focus on developing a robust compliance program for Melio and obtaining Money Transmitter Licenses (MTLs) in all states and territories where Melio operates, creating more payment opportunities for Melio customers.
“Understanding how compliance and regulation can provide customers with the highest quality of service is crucial for any financial institution,” says Passarelli. “I am excited to join Melio at a pivotal time of growth and service their customers by implementing the highest standards of protection.”
Passarelli has over 20 years of experience in compliance and has built and managed full-scale compliance programs for financial, cryptocurrency, and fintech companies.
He previously worked at Brex, where he served as Chief Compliance Officer, oversaw the company’s MTL framework, and managed all regulatory examinations and communication with regulatory bodies. Additionally, he has held the role of Chief Compliance Officer at multiple companies, including LGO, a leading Bitcoin spot exchange and OTC platform for institutions; Dealerweb Inc, a comprehensive and highly effective solution in the search for fixed income liquidity; and brokerage firm Kellogg Partners Institutional Services.
“We are excited to have Nicholas Passarelli join our team, bringing his wealth of expertise to Melio,” said Matan Bar, co-founder and CEO of Melio. “Nicholas’s strong values align with our corporate ethics that put compliance at the foundation of our company and with his guidance, we will be able to expand payment options for our customers.”
SOURCE: Businesswire