The future on the old continent? – Coinbase recruits the people who will realize its European ambitions. For the cryptocurrency exchange, this international growth is not a choice, but a vital requirement.
A German bank executive for Europe
According to an October 17 article from Bloomberg, Coinbase Global Inc. has recruited Daniel Seifert as regional general manager, lead the expansion of the crypto exchange in Europe.
The company is in the process of fill key positions to ensure its development on the old continent, after it obtained the green light from regulators in Italy and in the Netherlands, to offer its services there legally.
Daniel Seifert, who will be at the head of this European conquest, held for more than two years the position of chief operating officer at the German bank Solarisbank AG. The latter has a platform of ” banking-as-a-service which allows its customers to integrate Solarisbank’s fully digital banking services into their products.
According Nana Murugesanvice president of international and business development at Coinbase, the hiring of Daniel Seifert is the result of a hunt that reportedly began earlier this year, with the company recruiting from a “ very targeted way ».
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France, the next essential stop for Coinbase
The beginnings of this development on the European continent occur during the bear markets, while overall, the finances of cryptocurrency exchanges are suffering from the declines in their transaction volumes. In terms of numbers, Coinbase recorded losses of more than half a billion dollars in the second quarter of this year alone.
Despite the bear market shaking crypto exchanges, Nana Murugesan stressed that international expansion is “a existential priority” for Coinbase. He claimed that most of the company’s growth potential is in Europe, ” whether it’s a bull or bear market ».
Henceforth, the company would have France and Spain in sight where it plans to expand its services next year. It would also seek to register and conduct discussions with regulatory authorities, in Ireland and the UK.
In the middle of the crypto winter, Coinbase is therefore gradually packing its bags in Europe, to ensure the company’s long-term growth, while at the same time it has to face the many complaints that target him in the United States, one of which could cost him the modest sum of 350 million dollars.
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