American cryptocurrency exchange platform, Coinbase, will ramp up its investment in India and the Nasdaq-listed company will be hiring 1,000 people in the India hub this year, besides continuing investments in Indian startups through its investment arm Coinbase Ventures.
Coinbase CEO Brian Armstrong, announced in a blog post, "Coinbase Ventures has already invested $150 million in home-grown Indian technology companies in the crypto and web3 space, and is constantly identifying new opportunities to help Indian founders scale."
Coinbase’s Indian tech hub was launched last year and currently has over 300 full time employees.
Notably, Coinbase is the largest cryptocurrency exchange in the US by trading volume, and is said to be a distributed company wherein all employees operate via remote work and the company lacks a physical headquarters.
Brian mentions that the company has ambitious plans for India and seek to hire over 1,000 people in the company’s India hub this year alone. Brian is in India since the beginning of this month and will be interacting with crypto community founders, evangelists and even students
In addition to above, Coinbase will be hosting a crypto community event in Bangalore to discuss the future of crypto and web3 in India. "We will have many special guests", he said. Registration of same is here.
Recently, Coinbase Ventures, the investment arm of Coinbase, in partnership with Indian Incubator, and Buidlers Tribe, launched a Startup Pitch Session wherein Startups stand a chance to pitch and win up to $1 million in funding from Coinbase Ventures and $25K in grants and mentorship to select founders from BeliefDAO.
Recently, in response to the 2022 Russian invasion of Ukraine, Coinbase blocked 25,000 cryptocurrency wallet addresses related to Russia, believing them to have engaged in illicit activity.