Brett Tejpaul told interviewer Eliisabetta Bartolini, partner at Heidrick & Struggles, that institutional assets under custody were $6 billion when he joined the firm in April and have grown to $20 billion today. Tejpaul came to Coinbase after 25 years in sales and trading in the traditional financial markets with stints at Barclays and J.P. Morgan.Â
Tejpaul credited this growth in part to Coinbaseâ€™s acquisition of Tagomi in MayÂ
â€œIt radically transformed our ability to cater to institutional clients that want to use smart order routing and algorithmic execution,â€ he said. â€œOur trading volumes are 20 times what they were in the beginning of the year.â€
The firm is now measuring new capital coming in for bitcoin in the billions, Tejpaul said. The veteran banker also said that adding J.P. Morgan Chase as its banking partner and Deloitte as its auditor has given Coinbase more compliance credibility.