Coinbase is the largest crypto exchange in the United States. In April, the company was also added to the list of public trading companies and rose to the status of giants like Microsoft, Facebook, and MasterCard. The company has been looking for a window to get a chance into the massive Asian market that offers a lot of potentials. For most foreign companies, destinations like UAE and China are the most potent markets for Asian access.
However, the unlikely regulatory status of cryptocurrencies has presented the digital exchange with some issues. Recently, a new branch office of Coinbase opened up for business in Hyderabad. The city is known for being the technical hub of the country and is considered an equivalent of Silicon Valley in India.
Coinbase is Planning to Open more Branches in Different Cities of the Country
Coinbase has chosen India as a gateway to reach as many Asian markets as possible. Therefore, the company representatives claim that they have plans to branch out in all major cities like Delhi, Mumbai, and others. After the settlement of offices in Europe, London, and Ireland, this is the biggest expansion plan for the crypto exchange giant thus far.
VP of Engineering and Site Lead for Coinbase India, Pankaj Gupta, claims that the branch offices would have teams delegated for every department. Local talent will be hired to become parts of the teams working for departments like blockchains, machine learning, product engineering, digital payments, blockchain networks, DeFi applications, and many more.
Coinbase Business Expansion Plan for the Asian Market Ousts China and Invites India to Take its Place
There is no doubt that China is the superpower in Asia. However, choosing India over China is like sending a message that there are still other candidates to get the job done.
The current population of India is estimated to be 1.36 billion. Large groups of youth there are interested in emerging tech innovations and investment opportunities. To some extent, it is also a way of furthering the western political agenda in Asia. VP Gupta explains to the media that Coinbase offices will be looking for the best engineering talent from the local population.