Coinbase appoints Elke Karskens as Director for Benelux and the Nordics
“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.