SAN FRANCISCO–(BUSINESS WIRE)–Basis Theory, the data tokenization platform that helps any company quickly and compliantly collect, secure, and use sensitive information, has hired Block’s former head of product and regulatory legal for its Afterpay division, Jin Han, to oversee the company’s product roadmap for regulatory compliance as general counsel.
Han brings over 18 years of experience leading legal and regulatory compliance at companies such as Apple, Klarna, and MobiTV in addition to Block. At many of these companies, he originated the development of payment ecosystems that would stand up to the requirements of a globally distributed compliance infrastructure.
At Block, Han led the legal team supporting Square Capital’s bank charter application and lending operations in 2018. As a founding member of Klarna U.S. and its board of directors, Han helped build Klarna’s merchant payment processing platform, consumer lending and BNPL products, network and bank partnerships, IP protection regime and state license portfolio. While at Apple, Han was lead payment and regulatory counsel for Apple’s physical and online retail operations, and was an early contributor to the Apple Pay project where he led Apple Pay’s launch negotiations with card issuers and networks.
Han sees the rapid global expansion of the regulatory climate, and a growing demand from consumers and government bodies to increase data privacy protections, as a forcing function for compliance innovation.
“The fragmented, underfunded, and just-in-time approach to compliance that views it as a cost-center won’t prepare businesses for the coming regulatory winter,” says Han. “Basis Theory’s application of tokenization to data compliance is an ambitious solution that shifts compliance to a value driver instead of a bottleneck. Because sensitive data can be permissioned, masked, and structured for virtually any regulatory use case, adapting to new compliance requirements is much simpler and easier to implement. Basis Theory’s flexible platform also means that it does not restrict use of sensitive data by design, but instead unlocks that data for versatile and compliant business use.”
Basis Theory’s compliant-by-default infrastructure, feature-rich tokens, and developer-first platform ensures secure and compliant collection, storage, and usage of sensitive data. Developers can use the tools and frameworks they’re already familiar with, like JavaScript and React, to build products, services, and partnerships without exposing their systems to compliance scope or restricting the value of the raw data. This creates a fast, simple, and customizable on-ramp that ensures virtually any data type is continuously compliant and releases regulatory requirements as a blocker to forward momentum. A few months ago in October, the company launched PCI Blueprint, a one-click PCI compliance environment that enables developers to get PCI Level 1 certified in five minutes or less.
“Jin is an expert at creating the compliance frameworks for large, globally distributed businesses, and he is going to help us build that knowledge into the Basis Theory product suite so any company can implement these best practices as their default technology infrastructure,” said Colin Luce, co-founder and CEO at Basis Theory. “Our goal is to remove the friction from regulatory concerns by baking it into the very foundation of your tech stack and development lifecycle.”
About Basis Theory
Basis Theory’s tokenization platform instantly delivers the same data security best practices and compliance postures used by today’s most admired privacy-conscious companies. Basis Theory’s developer-first tokenization platform provides a simple API, native tools, and granular controls that secure sensitive data—like credit card data and PII—to unlock new products, insights, and partnerships. Customers use Basis Theory’s compliant infrastructure and expertise to meet or exceed compliance requirements, like PCI, GDPR, and local data residency laws, without taking on the burdens of securing it themselves. Basis Theory is building from first-hand experience at Twilio, Klarna, and Dwolla and has raised over $17 million from top-tier investors, including Bessemer Venture Partners and Kindred Ventures. For more information, visit http://www.basistheory.com.
