Former Chairman of First Bank of Nigeria, Ibukun Awosika, has been appointed to Binance’s global board of advisers.

In a statement seen by Peoples Gazette on Thursday, Binance, largest crypto exchange platform in the world by trading volume, said the board will help chart the best path forward for web3 crypto.

“To help chart the best path forward for web3, crypto, our company, and our users, I have established the Binance Global Advisory Board (GAB). I and its 11 other members are taking on a task that no one can do alone,” Binance founder and CEO Changpeng Zhao said.

Speaking further on the development, Binance CEO said the board will advise the company on regulatory, political, and social matters.

The board, which consists of eleven notable business leaders from around the world, will assist the company in navigating the regulatory and political minefield that is the cryptocurrency industry.

Henrique de Campos Meirelles, a former Brazilian minister of economy; David Wright, a former secretary general of the International Organisation of Securities Commissions; Bruno Bézard, a former head of the French Treasury; Ms Awosika and six other people make up the board, which is led by Max Baucus, a former chairman of the U.S. Senate Finance Committee and ambassador to China.

“We’re supercharging our ability to manage regulatory complexity by tapping into the highest level of expertise available anywhere in the world,” Mr Changpeng added.

Other members on the list of the advisory board include David Plouffe, a former senior adviser to President Barack Obama; Edward Vaizey, a member of the U.K.’s House of Lords who was a former minister of state for culture and the digital economy; Christin Schäfer, a former banker in Germany who founded a data consulting firm.

The rest are Adalberto Palma Gómez, a former Mexican Banking and Securities Commission (CNBV) president; and Leslie Maasdorp, a vice president and CFO of the New Development Bank who previously worked in the government of South Africa and with Bank of America’s Merrill Lynch, Goldman Sachs Group Inc. and Barclays.

Web3 is a new internet iteration that decentralises administration through the usage of blockchain. It has positioned itself at the heart of the regenerative finance movement, a new economic model that operates at the intersection of climate action and Web3 communities.