Cryptocurrency Exchange Coinbase Hires FinTech Executive To Manage Its European Division
The second largest cryptocurrency exchange in the world by trading volume Coinbase Global inc. has a new regional managing director for Europe in the person of Daniel Seifert. Before taking up this new role, Seifert formerly served as the Chief operating officer (COO) for Germany’s fintech Solarisbank.
Coinbase Hires Massively In Europe
After laying off staff massively earlier this year in one of the most shocking crypto layoffs, crypto exchange Coinbase has resumed filling up roles. On getting operation approval from some European countries and several others, the exchange will become well-established across the continent.
Per Bloomberg, Coinbase has employed Daniel Seifert, an ex-top-level executive with Germany-based FinTech firm Solarisbank AG, to help expand the company’s operations into Europe as its regional managing director. Seifart will be taking up the role after working as a COO at Berlin-based fintech Solarisbank.
Nana Murugesan, vice president of international and business development at Coinbase, stated that the firm plans to employ more people to fill core roles on the European continent. Seifert’s role is mainly to achieve expansion internationally for Coinbase.
The new managing director was previously a top-level executive with the Swiss investment bank UBS Partner. He was also an associate partner at the consultancy firm, McKinsey & Company, for nine years.
Seifert’s role will include the following:
- Pushing the company’s growth in Europe.
- Promoting Coinbase’s mission in this region.
- Hiring top talents there.
Also, he is to support critical regulatory efforts and ensure that Coinbase operates in total compliance with relevant local regulatory laws.
Coinbase’s Europe Expansion
The crypto exchange first expanded into Europe in 2018 when it established its Ireland headquarters. Then, it received an Irish e-money license in October 2019, which allowed it passported access to the European Union and the European Economic Area.
The firm already has in-principle approval in countries like Italy and the Netherlands, while it is seeking crypto approval in other European markets like the UK, France, and Spain. In June of this year, Murugesan mentioned the need for a regional manager to spearhead its European operations. He also stated that Coinbase entered U.K. and Europe during the last big bear markets of 2015 and 2016.
Two years later, the U.K. is now a massive part of Coinbase’s European operations. Murugesan stated that the crypto exchange made bets which have paid off significantly. The firm’s vice president of legal, Katherine Minarik, said Coinbase is currently in talks to get its operating license in more European countries.
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