Coinbase Picks up Solarisbank Exec to Drive Growth in Europe

Coinbase hired the former chief operating officer for Solarisbank to advance its current expansion drive across Europe.

Daniel Seifert joined Coinbase as vice president and regional managing director, EMEA, overseeing Europe, the Middle East and Africa, a spokesperson from Coinbase told PYMNTS on Monday (Oct. 17).

He will be in charge of driving the company’s business growth in Europe and working to help further Coinbase’s mission in the region. Seifert will also build out the workforce with local talent, support regulatory efforts and ensure Coinbase is operating in full compliance with local regulatory requirements.

Seifert said on LinkedIn that at Solaris, he had over two years of “hypergrowth” where he learned “nothing is impossible and that every problem has a solution.” Now he’s “thrilled” to lead the EMEA region at Coinbase.

He and the team at Coinbase will “work hard to make Europe a leading location for web3 and crypto, and contribute to increasing economic freedom and digital sovereignty,” he said.

See also: Coinbase Furthers European Expansion Following US Layoffs

After reducing its U.S. workforce in June, Coinbase siloed its attention on Europe and is going after additional licenses as it eyes international expansion, PYMNTS reported June 20.

Regulatory registration for payments licenses was recently granted in Italy and the Netherlands, with plans in the works to bring its services to France and Spain in 2023 pending regulatory approvals, Coinbase Vice President of International and Business Development Nana Murugesan told Bloomberg, according to a report on Monday (Oct. 17).

Coinbase is also in talks with officials in Ireland and the U.K.

“International expansion is an existential priority for us, whether it’s a bull market or bear market, that’s where most of our upside is,” Murugesan told Bloomberg.

Read more: Final Draft of EU Crypto Law Caps Stablecoin Transactions

The European Union reached a provisional agreement for the final text of the Markets in Crypto Assets (MiCA) law, which creates a broad legal framework for digital assets including cryptocurrencies and stablecoins. Murugesan told Bloomberg that Coinbase “welcomed the bloc-wide approach.”

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