Crypto Exchange Coinbase Appoints Marcus Hughes As New GM For Europebr>
Crypto exchange Coinbase has appointed Marcus Hughes as its new general manager in the UK and Europe.
Hughes, who joined Coinbase in 2018 as legal counsel, will replace chief executive Zeeshan Feroz, who moves into a consultancy role, with immediate effect. Hughes will be tasked with growing the exchange across the region at a time of rapid change for the crypto industry.
Prior to joining Coinbase, Hughes spent a decade at Morgan Stanley, where he was an Executive Director in its legal and compliance division and specialized in electronic trading across equities and fixed income.
“For the past two years, Marcus has led numerous complex projects for Coinbase around the world as we have grown internationally,” said Coinbase. “He has also been responsible for establishing and maintaining our regulatory relationships across multiple regions, working closely with regulators to educate them on crypto and advocating for appropriate regulation.”
In an interview with business-focused newspaper City A.M., Hughes said that the crypto market was now entering what he termed the “utility” phase – when instead of simply being bought and sold as an asset, cryptocurrencies such as bitcoin and Ethereum can enable a whole range of services to be offered to serve customers’ financial needs, replacing traditional financial networks.
“The value proposition for crypto is far bigger than just buying and selling”, Hughes said. “We imagine crypto at the heart of so many different financial services that we have today.”