Bitstamp Recruits Ex-Coinbase Official to Head New York Office

Cryptocurrency exchange, Bitstamp today, has reportedly inaugurated an ex-Coinbase executive, Hunter Merghart to lead its operations in the U.S.

According to the announcement, Hunter Merghart who also was a Wall Street veteran will now oversee the New York branch office of the Luxembourg-based exchange, a little over a month after Bitstamp received a BitLicense authorizing the launching of a new office in NY.

Following the BitLicense approval, Bitstamp emerged as the 19th cryptocurrency firm to acquire the coveted regulatory stamp, which supposedly allows them to provide service to the New York residents.

The exchange believes that Merghart is fit to handle the operations of the new platform since he had acquired the right skills and experience from his former workplace.

Backing it up, the CEO of Bitstamp, Nejc Kodrič expressed in a release that, Merghart is “the perfect person to lead our U.S. operations, which includes making sure our retail and institutional investors have a platform and service that is equal to what they would find at any traditional exchange anywhere in the world.”

Merghart noted that he “really believes in the strategy that the team has put in place and can’t wait to help execute it.”

Noting that he is joining Bitstamp six months after he left San Francisco-based Coinbase as the Head of Trading in October, Merghart expressed that,

This is an amazing opportunity for me to take what I’ve learned in both traditional finance and crypto to a larger role where I can help grow the U.S. business of the largest European crypto exchange.

Merghart has also worked as the Vice President of RBC Capital Markets, cash equity trader of Credit Suisse, and Director of Trading at  Barclays.

Apparently, with the upgrade on Bitstamp and the addition of the new official, the exchange now hopes to expand its services across the U.S., which until now is on a “passive” phase.

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