Clifford Chance (CC) corporate finance partner Alex Erasmus is leaving the magic circle firm's London office to become chief legal officer at Hong Kong-based blockchain developer Block.one.

Erasmus, who joined CC in 2001 and has been a partner since 2007, will be based in Hong Kong and will take up his new role later this year.

He will oversee all legal, regulatory and compliance activities for Block.one, which sells cryptocurrency EOS Token in addition to developing the EOSIO software.

Erasmus said: "It's a fascinating time in technology from a legal and regulatory point of view, and blockchain is a particularly dynamic industry. Block.one is a world leader in blockchain and its EOSIO software is driving adoption at a rapid rate. I'm looking forward to helping the company grow with the market."

Erasmus will report to president Rob Jesudason.

Jesudason said: "The regulatory landscape around blockchain technology continues to evolve positively. As a leader in the field, Block.one wants to remain at the forefront of these developments. Alex has extensive experience in advising regulated companies on corporate, capital and compliance matters. We look forward to him joining Block.one."

Block.one gained $4bn (£3.1bn) in investment this year as part of a year-long initial public offering auction.

A CC spokesperson said: "We would like to thank Alex for his contribution to the firm and wish him well for the future."

McDermott Will & Emery partner Lee Schneider became Block.one's general counsel in May.

CC recently introduced a new training contract aimed at legal technology – alongside its traditional training contracts – which is focused on developing fintech, coding and artificial intelligence.