European cryptocurrency exchange Bitstamp has managed to secure a head for its United States operations, announcing this Wednesday that it has appointed Hunter Merghart to the position.
Merghart joins the crypto exchange with a career which spans across both the traditional financial markets and cryptocurrency space. As the head of US operations, he will focus on working with new and existing clients, with a particular focus on institutional clients.
According to the statement from the company, Merghart will be based in New York and will lead efforts to open Bitstamp’s office in the city, as part of the firm’s ongoing efforts to expand in the American city.
Before he was leading Bitstamp’s US operations, Merghart was most recently the head of trading at Coinbase. During his time here, he coordinated the buildout of the company’s over-the-counter trading business. This included business development and sales, the statement said.
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During his career, Merghart has held a number of senior roles at traditional financial institutions such as Barclays, where he was a director of trading, RBC Capital Markets as a vice president, and Credit Suisse, where he was an associate.
Commenting on the appointment, Nejc Kodrič, Chief Executive Officer of Bitstamp said: “We are excited to have Hunter join our team at a time of strategic growth at Bitstamp. He’s 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.”
Bitstamp Continues to Expand US Footprint
The addition of Merghart as the head of Bitstamp’s US operations is the result of the cryptocurrency exchange expanding its footprint in America. As Finance Magnates reported in April, the Luxembourg-based exchange announced that it had been granted a BitLicense by the New York Department of Financial Services (DFS.)
As Bitstamp’s CEO said at the time, the BitLicense was crucial for the exchange to continue to expand its presence in America, especially when it comes to working with institutional investors.
“Bitstamp has repeatedly proven that it believes in the future of the industry and is committed to developing best practices that benefit its customers and the cryptocurrency space,” added Hunter Merghart, head of U.S. operations at Bitstamp. “I look forward to helping Bitstamp more effectively serve its existing clients in the U.S. and expanding its presence throughout the States.”