By
Bena Ilyas
April 30th, 2024
As the newly appointed president, Murugesan will oversee a team of 60 employees and lead a recruitment campaign in the upcoming months.
Nana Murugesan, the former vice president of international and business development at Coinbase, has joined Matter Labs, the developer of zkSync, as their first-ever president. Murugesan’s appointment reflects his ambition to guide a company through a phase of global expansion.
Murugesan’s Vision for Scaling the Growth of Matter Labs
During an interview with Bloomberg, Murugesan expressed his enthusiasm for embracing this new role as a founding partner. He emphasized his long-standing desire to contribute to a company’s growth trajectory, stating:
“I’ve always wanted to take on this role of a founder complement, to really help a company scale to the next level, which with smaller companies in earlier stages, it’s possible to do.”
Alex Gluchowski, the chief executive officer at Matter Labs, echoed Murugesan’s new role, revealing that the project envisions a journey akin to taking the company from zero to one, with Murugesan’s task being to drive the company further, pushing it from one to ten, then 200, and eventually 1000.
As the newly appointed president, Murugesan will oversee a team of 60 employees and lead a recruitment campaign in the upcoming months. Additionally, the firm plans to prioritize the expansion of its marketing, legal, and policy efforts, ensuring a comprehensive approach to its growth strategy.
The new president will continue to serve as an advisor at Coinbase until July 2024, a role he announced he was leaving last November. This decision ensures a seamless transition and allows him to complete his board responsibilities.
The appointment of Nana Murugesan as the inaugural president will significantly enhance MatterLabs’ growth in terms of global expansion. The company stands to benefit from capitalizing on his extensive experience and vision for global expansion. Consequently, we eagerly anticipate MatterLabs’ new chapter as Nana assumes leadership.
Matter Labs’ Passion for Blockchain
Matter Labs is an engineering team driven by a passion for liberty, blockchain technology, and mathematics. The company has gained recognition as the creator of zkSync, a blockchain scaling solution secured by cutting-edge cryptography.
zkSync, which was created in 2020, has experienced growing usage. Its primary goal is to make crypto payments more cost-effective in the present while also paving the way for scaling arbitrary smart contracts in the future.
Although Matter Labs is still in its early stages, the company has already achieved a significant milestone by striking a strategic partnership with Sygnum Bank, a digital asset specialist, and the world’s first regulated digital asset bank.
This collaboration led to Sygnum tokenizing $50 million of Matter Labs’ treasury reserves into the zkSync blockchain, an Ethereum-based layer-2 blockchain protocol designed to enhance the performance and scalability of the Ethereum network. In addition to this partnership, Matter Labs has also recently raised $200 million in a Series C funding round for Scaling Ethereum with zkSync Solution, co-led by Blockchain Capital and Dragonfly.