Nana Murugesan, formerly a key figure in Coinbase's global expansion endeavors, has taken on a pivotal role as president at Matter Labs, a company backed by a16z, with the aim of driving forward the advancement of zkSync technology.

Having played a critical role in spearheading global expansion initiatives at Coinbase, Murugesan brings a wealth of experience and strategic vision to Matter Labs. In an interview with Bloomberg, he expressed his enthusiasm for embracing this new challenge, highlighting his ambition to lead the company to unparalleled success.

"I've always been drawn to the opportunity of guiding a company to new heights, particularly in its formative stages. With Matter Labs, I see the potential to make a significant impact and propel the development of zkSync technology," remarked Murugesan.

As president, Murugesan outlined his plans to oversee a team of 60 employees and launch an extensive recruitment drive in the coming months. Additionally, he emphasized the firm's commitment to expanding its marketing, legal, and policy efforts, underscoring the multifaceted approach to driving growth and innovation.

Prior to joining Matter Labs, Murugesan served as vice president of international and business development at Coinbase, where he played a pivotal role in shaping the company's global strategy. With a diverse background spanning various positions at esteemed companies such as Snap Inc., Samsung Electronics, and The Boston Consulting Group, Murugesan brings a unique blend of expertise to his new role.

His decision to join Matter Labs follows his departure from Coinbase in November 2023, a move prompted by the exchange's decision to consolidate its operations within the European Union.

Matter Labs recently concluded a successful $200 million funding round in November 2022, garnering significant attention and propelling its valuation to an estimated range of $800 million to $1.2 billion. Supported by a diverse group of investors, including a16z, Blockchain Capital, Dragonfly Capital, and Lightspeed Venture Partners, Matter Labs is poised for continued growth and innovation under Murugesan's leadership.