OneCoin, a cryptocurrency that employs “Know Your Customer” protocols to ensure transparency and accountability, recently appointed Pierre Arens, former CEO of Banque Invik (now Catella), as its new CEO. The announcement came at OneCoin’s international conference in Macau, attended by thousands of OneCoin enthusiasts and members of its associated OneLife marketing network.
The appointment comes as OneCoin ramps up its PR efforts to defend its reputation against false allegations and online rumour campaigns coming from competitors. These campaigns have charged OneCoin with acting as a Ponzi scheme and fraud, which OneCoin vehemently denies.
After enduring these attacks over the course of the past year, OneCoin initiated its first legal actions against these sources within the past few weeks and plans additional actions to counter any false information that would damage its position in the marketplace.
“Cryptocurrencies are the next big thing for the finance world, and I wanted to be a part of that,” says Arens. “Before accepting the position of CEO of OneCoin, I discovered that OneCoin has been the victim of a massive, coordinated and very professional black propaganda exercise, built around lies and carefully planted rumours. We have traced the sources of these allegations, and found that they are overwhelmingly coming from just a handful of individuals, often operating under a variety of aliases. And these individuals almost always have a deep and direct involvement with one of OneCoin’s major competitors.”
According to Arens, until recently, the cryptocurrency market has been dominated by one player, an organisation that operates in the shadows. Funds are moved around the world, anonymously, without trace. This undermines the role of the central banks and the regulatory authorities. It also creates real problems for law enforcement, as organised crime takes advantage of the secretive transactions.
“But at OneCoin we are doing something very different,” explains Arens. “OneCoin controls and audits everyone who wants to deal with us by a proper KYC (know your customer) process stored in our private blockchain, of which we have just now concluded a review and commissioned the move to its next generation. We will be transparent and accountable. In any OneCoin transaction, the recipient and the sender will be fully identified. We offer no scope for people who prefer to operate in the shadows.”
With a network business running to millions of members, and the new Dealshaker online trading platform, where more than 30,000 dealers are now accepting OneCoin payment, Arens stresses the importance of effective scrutiny and governance across the growing OneCoin business.
As the new CEO of OneCoin, Arens brings with him strong academic achievements and more than 25 years of experience in senior roles in banking and corporate finance. And, as his new role demands, he is very much an internationalist, fluent not only in his native Luxembourgish, but also in English, French, German and Italian.
“I’m honored and grateful to be given this opportunity,” Arens says. “OneCoin is a remarkable business, and it has an important role to play. The business is growing very fast now. The attempts to de-stabilize it have failed. These will be exciting times.”