Leading US crypto exchange Coinbase is making a new push to expand its presence in India with plans for a major signing wave.
In a new blog post, CEO Brian Armstrong points out how Coinbase Ventures, the company’s venture capital arm, has already invested $150 million in Indian tech companies in the cryptocurrency and web3 space.
Now the exchange plans to quadruple its presence in the country, adding 1,000 new full-time employees to its current headcount of 300.
Armstrong says,
“Coinbase’s Indian tech hub was launched last year and already has more than 300 full-time employees across the state and regions of India. We are excited to harness the dynamic talent of Indian software to develop our products and will continue to invest heavily in our hub in India. We have ambitious plans for India and are looking to hire over 1,000 people at our India hub this year alone.”
In a blog post in February, Nana Murugesan, Vice President of International and Business Development at Coinbase, announced the company’s plans for rapid global expansion.
As part of Coinbase’s plans to establish itself in India, the exchange has made investments in cryptocurrency platforms CoinSwitch Kuber and CoinDCX. Murugesan also listed the top three markets Coinbase had its eye on expanding into.
“An important first step in our strategy is recruiting experienced regional and country leaders from around the world. We are now embarking on a broad global expansion strategy, with hiring and investment plans to enter these markets, which will allow Coinbase to serve customers more locally:
Americas — Latin America, Canada
EMEA: Europe, Middle East and North Africa, Sub-Saharan Africa
APAC — South Asia, Southeast Asia and Oceania, North and East Asia”