Coinbase Hires Former Barclays Executive For Institutional Offer

To accelerate the development of its services and products dedicated to institutional investors, the popular Californian crypto-exchange counts on Brett Tejpaul, a former manager of the London bank Barclays.

On his website, Coinbase announced that Brett Tejpaul had joined the company as institutional coverage director.

Tejpaul spent 17 years with Barclays and held various positions as global sales manager or digital director. The financial services specialist also worked for a few years in the powerful American bank. JP Morgan.

In his new role at Coinbase, Brett and his teams in New York, San Francisco, the United Kingdom and Asia will focus on the continued institutionalization of the crypto, ”Announces Coinbase.

Tejpaul will be responsible for developing the institutional customers cryptocurrency while introducing new services.

Launched in spring 2018, Coinbase's institutional offering understands its trading platform Coinbase Pro as well as its conservation service Coinbase Custody, which today secures more than $ 8 billion in cryptocurrencies for its customers. Note that institutional clients now represent more than half the volume of transactions on Coinbase.

Brett joins Coinbase at a time when we have never been better placed to serve institutional investors. Across the company, our teams have worked tirelessly to create a suite of institutional-quality products and services designed in a way that is familiar to professionals, "said the California exchange.

During an interview with Bloomberg, Tejpaul said that the stable cryptocurrencies (stablecoins) were able to shade Bitcoin.

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The stablecoins, which often maintains a 1: 1 ratio with fiat currencies such as the dollar, have become the most widely used cryptocurrencies in recent years. Banks, hedge funds and asset managers may wish to use them to control settlement risk and increase the efficiency of capital, "he said.

Coinbase and Circle jointly launched a US dollar-backed stablecoin named USD Coin (USDC) earlier in 2018. The token is now ranked 18th in the cryptocurrency ranking with a market capitalization of around $ 730 million.