Coinbase hires former Barclays executives to lead agency business, will build business around stablecoin

Coinbase announced that it will once again enter the institutional market and hired former Barclays executive Brett Tejpaul to lead the strategy. Brett Tejpaul will be responsible for credit, merchandise sales and digital innovation. Previously, Tejpaul worked at Barclays Bank for 17 years. According to his LinkedIn profile, his positions at the bank include global sales executive, global credit and commodity executive, and most recently digital executive. Tejpaul said that Coinbase’s institutional business will continue to use its OTC trading, custody and exchange services, and will adopt a broader approach to meet customer needs. “I consider what stablecoins can do. I will consider credit risk, settlement risk, settlement speed, and the cost of maintaining old infrastructure. This can be used as a pioneer in widespread adoption and transactions in Bitcoin and other cryptocurrencies.” It is not clear yet about Coinbase What services will be built around stablecoins, the exchange declined to provide specific details. Coinbase currently provides USDC stable currency trading pairs. The basic technology behind USDC is developed by Coinbase and blockchain payment technology company Circle.