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More committed than ever - why we’re doubling down on EMEA

TLDR: It’s certainly been a busy few months since we announced plans to double down on building out across the EMEA region. Since then, our TRUST coalition has expanded into Europe, we have launched Open Banking for our UK customers, and we have introduced commission-free USDC trading via non-USD currencies. Our commitment to the EMEA region is stronger than ever - and today we are delighted to announce the appointment of five leaders to the regional business team!

By Nana Murugesan, Daniel Seifert

Company

, November 28, 2022

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It’s safe to say that these past few weeks have been some of the most challenging in crypto history. In Q1 2022, our team announced our intention to ‘light up the map’ as part of our ‘Go Broad and Go Deep strategy’ for international expansion and in Q3, we shared our plans for ‘building across Europe’. The prospect of furthering our mission to bring more economic freedom to each and every individual and business around the world was top of mind. This remains the case, and perhaps even more than ever.

Today, it is an honour to announce a major milestone in our international expansion, with five EMEA business leadership appointments: 

  • Elke Karskens, Country Director, UK;

  • Cormac Dinan, Country Director, Ireland; 

  • Patrick Elyas, Director, EMEA Market Expansion; 

  • Michael Schroeder, Director, Controls, Germany;

  • Daniel Seifert, Vice-President and Regional Managing Director, EMEA (previously announced)

The diverse breadth of experience, know-how and leadership that these appointments bring is unparalleled. Under their guidance, we plan to launch new products, grow our customer base, build our business, expand to new markets in the region, and continue to collaborate closely with our external constituents, including policymakers, regulators, financial institutions and partners. ​​

Why now, why here? 

We strongly feel that the EMEA region is leading the way in creating a safe and secure regulatory environment for crypto. In fact, we consider it a gold standard setter and an example of what can be achieved when the political will is there. The importance of this has never been more apparent than in the last few weeks, when the devastating fallout for customers and investors of an offshore, unregulated entity has become clear. Responsible companies - the ones who want to build a long-lasting economy for the future like Coinbase - want regulation that’s sensible, protects customers and fosters innovation. The EMEA region has been leading the charge on this, with the EU’s MiCA agreement earlier this year; the current Financial Services and Markets Bill going through parliamentary procedure in the UK; and the UAE, which has created the Virtual Assets Regulatory Authority (VARA), an  independent regulator for virtual assets.

The approach that policymakers in the region are taking feels aligned with Coinbase’s commitment to security, trust and transparency. Staying safe is not a ‘one and done’ thing - it requires ongoing, consistent practice. In the same way that you have to keep updating software to keep it secure, Coinbase is always actively working to maintain its premier position as the safest and most secure exchange. We won’t stop doing this and we are excited to continue our efforts in 2023. 

Watch this space!

Nana and Daniel 

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Nana Murugesan

About Nana Murugesan

Nana Murugesan is the Vice President of International and Business Development at Coinbase where he leads the company’s international operations and global partnerships. Previously, he was the Managing Director of International Markets at Snap Inc. where he led Snapchat’s international expansion and strategic partnerships.

Earlier in his career, Nana was the Vice President and General Manager at Samsung, where he served in a number of strategy, partnerships, and operations roles to launch and grow their Galaxy smartphone and services business, notably Samsung Pay. He also held product roles at Cisco and strategy consulting roles at BCG.

Nana received his BE in Engineering from the University of Madras, MS in Engineering from the University of Wisconsin-Madison and MBA from The Wharton School at the University of Pennsylvania.