Bitstamp to Expand US Operations by Hiring Former Coinbase Exec Hunter Merghart

European crypto exchange Bitstamp has appointed a former Coinbase executive as head of United States operations, Finance Magnates reports on May 8.

Bitstamp, an entrant of the top 50 crypto trading platforms by daily trading volume, has hired Hunter Merghart in a move to expand its operations in the U.S., following the recent acquisition of a virtual currency license from New York state’s financial regulator.

Merghart will be based in New York and will focus on working with Bitstamps’ new and existing clients — particularly targeting institutional clients — the report notes.

Bitstamp’s new head of U.S. operations has most recently served as head of trading at major U.S. crypto exchange and wallet service Coinbase. Merghart also has years of experience at traditional financial institutions such as global financial services firm Barclays and institutional-grade financial company RBC Capital Markets.

Bitstamp was granted a virtual currency license, known as the BitLicense, by the New York Department of Financial Services in mid-April. The acquisition of the license enabled Bitstamp to allowing NYC-based investors to purchase and sell bitcoin (BTC) and other virtual currencies for U.S. dollars and vice versa.

Yesterday, Bitstamp announced a redesign of its website, claiming to provide a more user friendly platform.

In late April, a report found that the U.S. has the highest share of visits of cryptocurrency exchange platforms globally, with about 22 million visits coming from U.S.-based users.