Coinbase Hires New Executives For Expansion In Europe

Coinbase, the largest cryptocurrency exchange in the United States, has hired new executives to lead its opportunities to expand in Europe, the Middle East, and Africa (EMEA).

The hires are part of the company’s global expansion strategy, entitled “Go Broad and Go Deep,” which was revealed in the third quarter. In an effort to expand its presence in Europe, Coinbase reportedly applied for licenses with multiple countries in July.

Elke Karskens has been named Coinbase’s country director for the United Kingdom, while Patrick Elyas has been named the company’s director of market expansion in Europe, the Middle East, and Africa.

Coinbase also just announced that Cormac Dinan, formerly the general manager of competing exchange Crypto.Com, will be leading operations in Ireland for the company. Former Bittrex chief compliance and risk officer Michael Schroeder will now head up controls in Germany.

Under the guidance of the CEOs, Coinbase aims to boost its user base, expand into new markets, and engage with regulators, policymakers, and financial institutions.

The exchange hopes to introduce brand new products and stated:

“The diverse breadth of experience, know-how, and leadership that these appointments bring is unparalleled.”

Coinbase’s latest employees reflect the company’s confidence that the EMEA area has been at the forefront of efforts to establish a stable regulatory framework for cryptocurrencies.

To back up its assertion, the market pointed to the recently enacted MiCA agreement in the European Union, the Financial Services and Markets Bill currently being debated in the British Parliament, and the Virtual Assets Regulatory Authority (VARA) in Dubai.

Coinbase Is Not The Only One Eyeing European Market

Although the cryptocurrency market has been volatile throughout 2018, widespread adoption of cryptocurrencies in Europe has not slowed.

As per the reports, Cryptocurrency exchange Gemini Expands Into New European Markets, Now Operating in Denmark, Sweden, Portugal, Latvia, the Czech Republic, and Liechtenstein.

Additionally, CEX.IO was named Best Exchange at the 2022 Hedgeweek European Digital Assets Awards. The award recognises outstanding work by digital asset fund managers and service suppliers.