American-based crypto exchange giant Coinbase continues to expand despite facing regulatory setbacks for its products. Working towards its expansion, it aims to expand itself in countries outside the US; for this, Coinbase has chosen India.
The company is actively recruiting for its products and technology posts in India's big cities, Bengaluru and Hyderabad, to develop its capabilities. Coinbase's recruitment includes software engineers, engineering managers, experts in platform payments, data scientists, and vendor management analytics. However, Coinbase has not disclosed what the number of new recruits will be.
According to the information received, Coinbase has currently changed its strategy and intensified its recruitment efforts for its products and tech roles. Coinbase seems to be joining the recruitment race again, and this decision has been taken by it after the reduction in employees in 2022.
The company laid off about 18% of its employees in June 2022, affecting about 8% of its India-based workforce. After this, Coinbase announced the layoff of about 950 employees in January 2023. But if we talk about the last three weeks, Coinbase has listed about 30 open positions on its LinkedIn page.
Indian tech talent is attracted to crypto exchanges, which is why Coinbase is moving towards India. Coinbase first launched its services in India in April 2022, adding over 1,000 people and offering jobs to around 3,000 full-time workers.
After this, once again, Coinbase wants to develop its plans in India. But this trend has not only been seen at Coinbase but also at other cryptocurrency companies like Gemini, pointing to a broader trend of setting up tech talent hubs in India. Apart from Coinbase and Gemini, the crypto firm led by the Winklevoss twins is ready to spend $24 million over the next few years to establish its tech base in India.
Also Read: Utilize Blockchain Technology to manage Cyber Monday Sales
