In April 2021, Coinbase had revealed its intention to hire hundreds by 2022. It had also taken on Pankaj Gupta as head of its India development centre. The plans of the cryptocurrency exchange seem to be on track, as it continues to focus on India’s crypto and Web3 ecosystem.
Its Indian tech hub, which was established last year, already employs about 300 full-time employees. As part of its growth plan, Coinbase is looking to hire more than a 1,000 people in 2022 itself.
Last year itself Coinbase had expressed its intention to take on hundreds of people across the engineering, research, product and programme management and UX design domains over the next couple of years. It had then admitted that its objective was to turn the India development centre into a technological hub.
Brian Armstrong, the Company’s CEO is confident that crypto and Web3 technology will be able to give a push to the Indian economy, considering the rate at which India has progressed in terms of digital payments infrastructure. Additionally, it has no dearth of ace quality software talent, which is an added bonus.
The Company has already pumped in $150 million in Indian startups in the crypto and web3 space, and will continue to do so in the future too.
The Indian government is in talks with the International Monetary Fund (IMF), the World Bank, and India’s central bank to create a crypto framework.