Coinbase appoints Elke Karskens as Director for Benelux and the Nordics

Rick Steves

“I aim to harness Coinbase’s trusted platform to drive growth, foster innovation, and create a lasting positive impact in these vital markets.”

Coinbase, a major player in the cryptocurrency market, has announced key leadership changes aimed at expanding its footprint in the vital Benelux and Nordic markets.

This comes a week after the company announced Ireland as its Markets in Crypto-Assets (MiCA) entity location, marking a deeper commitment to its European operations.

Elke Karskens, formerly serving as the UK Country Director, will now assume the role of Country Director for Benelux and the Nordics.

Daniel Seifert, the current Vice President and Regional Managing Director for EMEA, will extend his responsibilities to include Coinbase’s activities in the United Kingdom.

“Returning to my native country, the Netherlands”

These changes are part of Phase II of Coinbase’s ‘Go Broad, Go Deep’ international expansion strategy. Further announcements are expected later in the week.

Elke Karskens has been a vital cog in Coinbase’s operations in the UK, bringing extensive knowledge of the cryptocurrency landscape. Her promotion highlights her dedication and ongoing efforts to grow and empower the crypto community in her native region. Last year, Coinbase became the first major global crypto exchange to register with the Dutch Central Bank, enabling it to offer its services in the Netherlands.

“Returning to my native country, the Netherlands, and leading Coinbase’s operations in these dynamic regions is a privilege,” said Karskens. “I aim to harness Coinbase’s trusted platform to drive growth, foster innovation, and create a lasting positive impact in these vital markets.”

Nana Murugesan, Vice President of International and Business Development at Coinbase, noted, “Both Elke and Daniel’s transitions show that we recognize the need to diversify and deepen our presence in key markets. We continue to strive to provide a seamless user experience while leveraging regulatory clarity to drive our mission forward.”

Coinbase’s latest strategic leadership appointments position the company at the vanguard of the crypto industry’s international expansion, further solidifying its role as an industry leader.

Coinbase’s EU operation headquartered in Ireland

The US-listed cryptocurrency exchange has chosen Ireland as its central base for operations and regulatory oversight within the European Union. Coinbase submitted its license application under the EU’s upcoming Markets in Crypto-Assets (MiCA) regulation, which is slated to be in effect by December 2024, to the Central Bank of Ireland.

This move isn’t the firm’s first interaction with the country as Coinbase has maintained a presence in Dublin since 2018, boasting a workforce of around 100 individuals. As of now, it already holds an e-money institution license and virtual asset service provider (VASP) registration in Ireland, a cryptocurrency license in Germany, and various national registrations in other EU member states.

The registration covers two entities: Coinbase Europe Limited, and Coinbase Custody International Limited, both of which are based in Ireland. Coinbase Europe provides crypto trading services to customers in Europe, while Coinbase Custody International provides crypto custody to institutional customers.

Acquiring this license would be a crucial milestone for Coinbase. With the MiCA license under its belt, the crypto exchange can “passport” its array of services to several European nations, including major markets like Germany, France, Italy, and the Netherlands.

The license would obviate the need for Coinbase to navigate through the bureaucratic maze of securing individual permissions in each EU state. Nana Murugesan, Coinbase’s Vice President of International, highlighted the company’s readiness to capitalize on this license from the outset.

Read this next

Digital Assets

JPMorgan’s stablecoin ventures into interbank transactions

JPMorgan Chase & Co.’s proprietary digital token, JPM Coin, is set to expand its use case by facilitating interbank transactions on Partior, a blockchain ledger developed in collaboration with DBS Bank, Temasek, and Standard Chartered.

Retail FX

Interactive Brokers’ client base surges past 2.5 million

Interactive Brokers LLC (NASDAQ:IBKR) saw 1.89 million daily average revenue trades, or DARTS, in November 2023 compared to 1.93 million transactions in the prior month. The figure is three percent lower on a yearly basis, and also dropped slightly from a month earlier.

Executive Moves

Andrew Gibson launches TimberFX brokerage brand in Cyprus

After nearly two years at Tavira Securities as Head of Product Development, industry veteran Andrew Gibson is launching a new FX brokerage business based out of Cyprus.

Market News

US Dollar’s Trajectory Amidst Seasonal Trends and Economic Indicators in December 2023

As we traverse the final stretch of 2023, the noteworthy depreciation of the US dollar dominates the financial landscape

Inside View

Unlocking the Financial Potential of SMEs: Is FinTech the Key?

The rise of the gig economy for early-stage startups and freelancers has highlighted the increasing importance of small-scale business transactions and banking requirements. Unfortunately, this has also exposed a significant gap in the SME banking landscape.

Digital Assets

South Africa’s FSCA receives 138 crypto license applications

The Financial Sector Conduct Authority (FSCA) of South Africa is currently processing a slew of applications from cryptocurrency companies seeking operational licenses.


Exclusive Interview with Greg Rubin, Head of Axi Select: Unveiling the Future of Capital Allocation in the Financial World

Today, we are thrilled to kickstart another series of exclusive interviews with top executives in the financial services industry, hosted by our FinanceFeeds Editor-in-Chief, Nikolai Isayev. Our next guest is none other than Greg Rubin, the mastermind behind Axi Select.

Digital Assets receives UK’s EMI license, paving way for regulated expansion

Cryptocurrency exchange has been authorized as an Electronic Money Institution by the United Kingdom’s Financial Conduct Authority (FCA).

Digital Assets

Ripple’s Metaco joins Zodia Custody’s network for connectivity with Layers 0 and 1

“As the industry undergoes a pivotal transformation, our networked infrastructure is dedicated to standardise, govern and connect institutional digital asset flows — an essential step in forging use cases that transcend individual companies.”