Coinbase’s Former VP Joins Matter Labs as President, Eyeing Global Expansion

by

Nana Murugesan, who previously held the position of vice president for international and business development at Coinbase, has taken on the role of president at Matter Labs, the innovators behind zkSync. This new position marks Murugesan’s eagerness to steer a company through an exciting period of international growth.

Murugesan’s Vision for Scaling the Growth of Matter Labs

In an interview with Bloomberg, Murugesan shared his excitement about stepping into his new position as a co-founder. He highlighted his deep-rooted ambition to help a business flourish and expand, explaining: “I’ve always wanted to be part of a company’s growth story.”

“I’ve had a long-standing desire to assume the role of a complementary co-founder, providing substantial support for a company as it grows and transitions into later stages. This opportunity is particularly exciting for smaller companies in their early development.”

Alex Gluchowski, CEO of Matter Labs, agreed with Murugesan’s new position, sharing that the project aims for a growth trajectory similar to taking a company from its inception to the next level. Murugesan is responsible for propelling the company forward, transitioning it from a small entity to a significant player, eventually reaching great heights of success.

In his new role as president, Murugesan will manage a team of sixty employees and spearhead a hiring process during the next few months. Furthermore, the company intends to focus on extending its marketing, legal, and policy initiatives, aiming for a holistic approach in executing its growth plan.

The newly elected president will still function as an advisor for Coinbase until July 2024, a position he declared he would be stepping down from last November. This arrangement guarantees a smooth handover of duties and enables him to fulfill his obligations as a member of the board.

Nana Murugesan’s appointment as the first president of MatterLabs will greatly contribute to the company’s growth in the international market. With his extensive expertise and ambitious plans for global expansion, MatterLabs is poised to reap significant benefits. We are excitedly looking forward to the beginning of a new era for MatterLabs as Nana takes the helm.

Matter Labs’ Passion for Blockchain

At Matter Labs, our engineering team is fueled by a deep-seated enthusiasm for freedom, blockchain innovation, and mathematics. Notably, we have made a name for ourselves as the pioneers behind zkSync, an advanced scaling solution for blockchains that boasts top-tier cryptographic security.

Created in 2020, zkSync has seen increasing adoption. The main objective of this platform is to reduce expenses associated with crypto transactions currently, while simultaneously preparing the ground for the eventual large-scale deployment of complex smart contracts.

Despite being a newcomer in the industry, Matter Labs has made a notable advancement by entering into a crucial collaboration with Sygnum Bank, a leading digital asset expert, and the globe’s first authorized digital asset banking institution.

Through this partnership, $50 million of Matter Labs’ reserves were converted into tokens using Sygnum on the zkSync blockchain, which is a layer-2 protocol built on Ethereum aimed at improving its speed and capacity. Moreover, Matter Labs successfully secured $200 million in Series C funding, jointly spearheaded by Blockchain Capital and Dragonfly, to advance Ethereum’s scalability with the zkSync solution.

Read More

2024-04-18 15:39