Coinbase is making frequent moves, recruiting former Google Vice President of Product, and launching international custody services.

According to the official Coinbase Blog, the exchange has hired former Google Vice President of Product, Surojit Chatterjee, as its Chief Product Officer (CPO), who will focus on developing financial infrastructure in emerging markets.

• Chatterjee will focus on enhancing accessibility of its exchange
• Coinbase continues to expand custody business, aiming for full acquisition of European users

Chatterjee previously served as a product leader at Indian e-commerce platform Flipkart, founding member of mobile search ads at Google, and VP of Product Management. Chatterjee stated:

I'm excited to be part of something that is going to change the way we live, Google ads democratized business, Flipkart and e-commerce transformed lives in India, and I believe Coinbase will stand out from traditional finance.

According to Chatterjee's personal Blog, he believes the current financial system still has high barriers to entry and sees cryptocurrency and blockchain technology as a way to lower transaction costs and provide higher security, further enabling mass adoption of financial services. The CEO of Coinbase commented:

Chatterjee has a deep understanding of how smartphones have disrupted global e-commerce and the explosive growth of mobile payments, his insights and experience make him the perfect candidate to lead our product organization and help us innovate, Coinbase's products will be geared towards the future 1 billion crypto users worldwide.

Establishing International Custody Services

Aside from welcoming the former VP of Product at Google, Coinbase also recently announced the establishment of a new department, Coinbase Custody International, Ltd in Ireland to expand its custody services. The statement mentioned:

The mission of Coinbase Custody International is to provide institutional-grade custody services, in addition, token staking activities on Coinbase will also be performed by Coinbase Custody International.

Since 2018, Coinbase Custody has been serving numerous European countries including the UK, Switzerland, Germany, Finland, the Netherlands, and the launch of international custody services aims to comprehensively cover European users.

One of Coinbase's competitors, Fidelity Digital Assets, also expanded its custody and trading services to Europe in December last year, providing custody services for Bitcoin and currently considering launching Ethereum-related services based on customer demand.

Further Reading

• Global custody bank BNY Mellon alters its blockchain strategy, downsizes a large number of DLT developer teams
• Wyoming, USA unveils first crypto custody rules for blockchain banks

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