Coinbase is setting up its office in India despite regulatory concerns

Indian crypto exchanges continue to face the heat of regulatory uncertainty, while Coinbase is planning aggressive expansion in India. On Friday July 2nd, Coinbase Co-Founder and CEO Brian Armstrong tweeted that Coinbase is building its India office and expanding its Indian team.

Coinbase is setting up its office in India despite regulatory concerns

Pankaj Gupta, Vice President of Engineering and Websites at Coinbase India, published a blog post on Friday July 2nd detailing the company’s expansion strategy in India. Interestingly, Coinbase’s announcement comes on a day when India’s oldest crypto exchange, ZebPay, announced that major banks and payment gateways have withdrawn funds based on recent comments. This comes from the Central Bank of India.

The ongoing regulatory uncertainty surrounding crypto assets in India has angered both exchanges and investors. But Coinbase remains poised to weather these muddy waters in the face of rapidly growing interest in crypto among Indian investors. India’s crypto scene has exploded around 20,000 times so far, with a market volume of 40 billion US dollars.

Coinbase sets up its office in India with Tapping India’s Tech Talents Plan

In its blog post, Coinbase noted that it is trying to capitalize on India’s booming crypto sector and tech talent. In the blog post, President Gupta mentioned that Coinbase is committed to building a high quality technology center in India. In addition, Coinbase is actively looking for significant domestic acquisitions. Gupta wrote:

“We have ambitious plans for this center in the near future – we want to hire hundreds of world class engineers in the near future. This engineering team is complemented by equally high-quality product and design teams as well as supporting functions such as recruiting and recruiting in order to build a sustainable and integrative technology center.

To support our ambitious growth plans in India, we are also looking into start-up acquisitions and acquisitions. Founders who may be interested in Coinbase’s journey and mission please contact me. “

Coinbase will introduce an incentive model called CIkka aka “Coinbase India Sikka”, in which every employee will receive crypto worth $ 1000 for participating. The entry of Coinbase (NASDAQ: COIN) in India will play an important role in shaping the future of the crypto market in the country.

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