The new appointee will be expected to lead Coinbase’s expansion in the European cyrpto market.

In a statement reportedf by Bloomberg, Coinbase said it would fill a number of core positions within its European team.

The crypto exchange has already secured licences to operate in Italy and the Netherlands.

The European plans come in the midst of difficult conditions for crypto service providers. Cryptocurrency values have fallen during 2022 while regulatory requirements have risen.

This has led some crypto exchanges and platforms to either introdcue job cuts or hiring freezes. in June, Coinbase announced that its hiriing freezemwould remain in place for "the foreseeable future".

Meanwhile Coinbase has struck an agreement with Google that will see Google Cloud’s Compute platform used to process blockchain data at scale.