Fintech Executive Joins Coinbase to Lead EU Expansion

• Fintech Executive Joins Coinbase to Lead European Expansion.
• Daniel Seifert will take over the position.
• In 2018, Coinbase established a presence in Europe as it opened offices in Ireland.

According to a Bloomberg story, Daniel Seifert, a senior executive from the German financial technology firm Solarisbank AG, has been hired by Coinbase Global Inc. to oversee its European expansion. 

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After almost three years as the COO of Berlin-based Solarisbank, Seifert will take over the position. According to his LinkedIn biography, he has held previous positions as an associate partner at consulting firm McKinsey & Company and as head of operations and client service at the Swiss investment bank UBS Partner.

The hiring of Seifert also coincides with a changing of the guard as the industry navigates the protracted bear market, with CEOs of multiple large crypto companies either leaving or shifting from their jobs. Seifert has a wealth of expertise in the financial sector.

According to Nana Murugesan, vice president of international and business development, the position is focused on attaining worldwide expansion. In July and September, respectively, Coinbase successfully registered in Italy and the Netherlands. 

Murugesan also told Bloomberg that the cryptocurrency exchange is looking to Spain and France for regulatory permission in 2019.

When Coinbase launched its Ireland offices in 2018, it created a base in Europe. The European Union and the European Economic Area were passported to it once it obtained an Irish e-money license in 2019.

In an interview, Murugesan stated that the corporation sees expanding its global footprint as a must for survival. She continued by saying that the bulk of their potential upside was there, regardless of whether the market was rising or falling.

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