Coinbase is a significant crypto assets exchange and is now the first crypto start-up that went public recently. Now the exchange is planning to expand its footprint in India. To lead in India, the crypto start-up has appointed Pankaj Gupta, a former Google Pay engineering lead in India and the Asia Pacific. The announcement was made on Tuesday, which revealed that Gupta would be responsible for leading and building Coinbase’s tech hub in the country. Hence he will be the vice president of engineering and Site lead for India.
Coinbase establishing a business in India
Last month, Coinbase had shared a blog post that revealed that the exchange is planning to expand its operation in India. According to the post, the exchange is planning to open a physical branch in Hyderabad. The branch will hire local talents in engineering, software development, and customer support.
It is known that the exchange will gather hundreds of employees across all levels. Coinbase will appoint engineers, product managers, UX designers, researchers, and program managers within the next two years. According to Gupta, the cryptocurrency start-up will be building out a full tech hub in India. Additionally, they mentioned that to support such ambitious plans in the country, they will be exploring start-up acquisitions and acquihires.
India expansion plans began amid uncertainty
Coinbase came up with his expansion plans in India, where there is still uncertainty regarding the country’s stance on cryptocurrency. Since earlier 2021, few anonymous sources have cited that the government is planning to outright ban cryptocurrencies. However, the country has clarified its stance regarding blockchain technology and plans to implement the technology. According to Shri Nirmala Sitharaman, the bureaucrats did not want to shut all options off and are planning to allow specific options for individuals to use crypto assets.
Coinbase wants to expand in India because the country has long been known for engineering and technology innovations. The exchange took its latest step to allow world-class talent to help the group create new ways for its users to interact with cryptos.
