Cryptocurrency Exchange Coinbase Anticipates Growth In Europe

Crypto exchange Coinbase has hired Daniel Seifert, chief operational officer of the German digital assets business Solaris, as regional managing director for Europe.

The new hire will be responsible for expanding Coinbase’s presence in the European cryptocurrency sector.

The cryptocurrency exchange has previously obtained operating licences in Italy and the Netherlands.

The European initiatives come amid challenging circumstances for crypto service providers. The value of cryptocurrencies has declined in 2022, while regulatory restrictions have increased.

Consequently, several cryptocurrency exchanges and platforms have implemented layoffs or hiring freezes. Coinbase declared in June that its employment freeze will continue for the “the foreseeable future.”

In the meanwhile, Coinbase and Google have reached a deal wherein Google Cloud’s Compute platform would be utilised to handle blockchain data at scale.