Coinbase, the cryptocurrency exchange, recently appointed Pankaj Gupta, as head of its India development centre. Immediately after joining in Bengaluru, not only will Gupta set up the Company’s technology centre in India, he also plans to hire hundreds of employees across the engineering, research, product and programme management and UX design domains over the next couple of years. The objective is to turn the India development centre of Coinbase into a technological hub.
The Company’s first physical office is coming up in Hyderabad, for which it had already announced its plans to hire engineers, engineering managers, software engineers and product managers as well. Coinbase already boasts of a 56 million strong verified user base.
Quite recently, Coinbase was successfully listed on Nasdaq. It is now gearing to acquire startups and go for acquihiring to further its work in the areas of blockchains, data engineering, infrastructure, machine learning, and so on. The Company believes in the advantages it will gain from the startup ecosystem in India.
The Company hopes to leverage the engineering talent available across India and at the same time, invest heavily in setting up a technology team in the country, hiring the best talent following the remote-first strategy.
Coinbase Ventures, the investment division of Coinbase, has invested in Coin DCX, the Indian cryptocurrency exchange in which it put in $13.5 million in a series B round in 2020.
With the Indian government demanding that companies mandatorily reveal their cryptocurrency investments, the hopes of startups and investors have only been fanned.