Cryptocurrency exchange, Coinbase has appointed one of its key in-house advisors as its new head of European business. Marcus Hughes, who until recently served as general counsel for international operations, is taking on the role of Coinbase’s new European lead.
He replaces Zeeshan Feroz, CEO of Coinbase UK Ltd, who is shifting into another position as a strategic consultant for the San Francisco-based company. Coinbase tapped Feroz, a fintech and Payments veteran, back in 2017 when he joined from crowdfunding firm, Tilt.com.
Hughes Zeeshan heads up Coinbase’s operations across Europe and will be responsible for all business operations in the UK/EU and all international markets serviced by Coinbase UK. He focuses on bringing its products to consumers and institutional investors in addition to speaking to regulators about the cryptocurrency while adjusting Coinbase’s in-house legal and compliance functions.
Announcing his promotions, the prominent American crypto firm stated: “For the past two years, Marcus has led numerous complex projects for Coinbase around the world as we have grown internationally. 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 .”
Marcus, who was hired by the crypto exchange unicorn in 2018, is a former legal and compliance officer at Morgan Stanley where he spent over a decade. He joined the investment bank in 2009 ahead of the global financial crisis, and then stepped into the cryptocurrency sector in the midst of its winter. He jumped the ship two years ago as Coinbase was widening its support for institutional and large-volume crypto trading.
Coinbase, which is valued at an eye-watering $8 billion, has been active about its European ambitions. It has originally secured an ‘e-money’ licence from UK’s FCA in 2018, which allowed clients to use faster payments services when managing their accounts.
In late 2019, it expanded its European foothold with an e-money license from the Central Bank of Ireland. Coinbase also added support for new crypto options to its Visa debit card, doubling the number of assets their customers can spend, and expanded availability to more European nations.
