Former director of stock trading at Barclays joined Coinbase

Former director of stock trading at Barclays joined Coinbase


The American cryptocurrency company Coinbase continues to expand its staff by employees who managed to make a name for themselves in the world of traditional finance. This time, the stock exchange was joined by former director of trading of Barclays shares, Hunter Merghart, writes Business Insider.

Earlier, Merghart also worked at RBC Capital Markets and Credit Suisse, and in Coinbase he will hold the position of broker for working with institutional clients and work in New York with the co-director of institutional sales, Christine Sandler.

The company wants to introduce new types of orders and improve the market structure of its institutional exchange of GDAX.

According to the recent actions of Coinbase, it becomes clear that the company seriously thought about creating a crypto version of the New York Stock Exchange.

Recently, Coinbase is actively expanding the list of services aimed at institutional investors. For example, the Coinbase Custodian service was launched, allowing you to store large amounts in the cryptocurrency, taking advantage of the security of the banking level. Access to the service can get customers whose deposit size exceeds $10 million.

A key component of this expansion is the attraction of talent from Wall Street to the company. Sandler, who previously worked for Barclays, joined Coinbase earlier this month, and Eric Scro, vice president of financial services for the company in March, worked for the New York Stock Exchange for more than 8 years.

Coinbase is also working on the introduction of other products and services that depend on market data.

However, in order to at least approach the same level as GDAX, the crypto-exchange must go a long way. Lynn Martin, ICE’s head of data, told Business Insider that the comparison of stock exchanges and crypto exchange is unacceptable.

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