One of the world’s most popular crypto exchanges, Coinbase, has now opened a new branch in India. This development comes as a result of India being one of the super economic powers of the world and one of the key places in the entire region when it comes to cryptocurrencies and blockchain technology implementation. Millions of Indians tend to trade and invest in cryptocurrencies on a near regular basis, and so it would only make sense for Coinbase to want to set up shop there.
To this end, a branch has been opened in Hyderabad. This tech center shall serve as the headquarters for the exchange’s operations in the subcontinent for now, and there are plans to hire capable people across a variety of varying fields from all over India in the coming months. This shall be done on a remote basis at first with plans of the individuals working from inside the office eventually once COVID-19 restrictions eventually ease up.
Huge opportunity for Indians
According to Coinbase representatives, several teams will be established to tackle all sorts of issues in India, as well as provide new, innovative jobs for qualified individuals. As such, these jobs will be centered around crypto, data engineering, blockchains, infrastructure cloud, machine learning, product engineering, platform, growth, payments, learning, and many more similar areas.
Moreover, the teams are also going to be spearheaded by engineering directors who will be chosen from the local populace, once again taking the qualifications and years of experience into account. These directors will possess autonomous, independent, and large charters to help manage all operations, according to the Vice President of Site Lead and Engineering in India, Pankaj Gupta.
Massive growth expected
As of now, only Hyderabad has been selected by Coinbase for the purposes of opening a local branch in India. However, the exchange fully intends to set up even more offices within various key cities in the near future. This needs to be done in order to have a truly flexible and hybrid environment.
Gupta had stated that if all goes well, then potentially hundreds of qualified engineers could be brought on board before long. This is in line with plans to establish local crypto and blockchain-based hub for the entire region.
This is also Coinbase’s largest expansion ever since it had previously opened offices in London. However, those offices were then ultimately shifted to Ireland.