Coinbase has is on a hiring spree and hired many talents from NYSE.
Coinbase one of the leading cryptocurrency exchanges in the United States and has recently hired Hunter Merghart a former sales trading Director at Barclays.
Merghart served as the Director of equity trading at Barclays for the last three years and has over ten years experience in equity trading sector. Before Barclays, he was the Vice President at RBC Capital markets and was heading its cash and trading desk.
Coinbase hiring spree shows that the exchange is going head-to-head with New York Stock Exchange (NYSE). It is also aiming to increase its list of institutional clients to its Global Digital Asset Exchange (GDAX)
Coinbase Custodian will also be another service which Coinbase would be launching to provide a secure cryptocurrency storage to its institutional clients. Coinbase is claiming that it would offer these services as per the banking standards but this service would be offered to clients with $10 million worth of cryptocurrencies.
Merghart will be joining Christine Sandler a former Head of Sales for NYSE Euronext to Coinbase as the Director of institutional sales. Coinbase also added Eric Scro to its team a former Head of Finance at NYSE. Some experts say that Coinbase has a long way to go to with the New York Stock Exchange.
Lynn Martin, the Head of data for ICE’s told Business Standards: “You are talking about a market that really was built 225 years ago and has had multiple evolutions as a result of various crises to a very new market.”
Martin also stated: “Crypto markets are very, very new. I like to say the guardrails haven’t been found yet in this market and the regulatory framework hasn’t been found yet in this market. That’s the reason you don’t find institutional users jumping in with feet first yet.”
Coinbase which was previously valued at $1.6 billion is now valued at $8 billion.