Coinbase has big plans for India: CEO Brian Armstrong

Brian Armstrong, CEO of international crypto exchange Coinbase, has announced in a blog post that the exchange has big plans for India.

Armstrong announced that the firm has made a $150 million investment in Indian technology start-ups focused on crypto and Web3.

Furthermore, the company plans to hire over 1,000 employees for Coinbase’s Indian office. The exchange already has 300 employees currently working at their Hyderabad and Bengaluru office.

The Coinbase chief wrote in his blog hosted on the company website that the exchange firm has already invested significantly in home-grown tech companies and is excited to tap into the "dynamic Indian software talent." 

“We are excited to tap into the dynamic Indian software talent to build out our products and will continue to invest heavily in our India hub. We have ambitious plans for India and seek to hire over 1,000 people in our India hub this year alone,” Armstrong said.

Moreover, Armstrong also announced that the exchange would be hosting a crypto community event in Bengaluru on Thursday, April 7. Apart from that, Coinbase Ventures, the investment arm of Coinbase, has also partnered with Builders Tribe to host a start-up pitch event on Friday, April 8.

He concluded his blog by saying that he has been traveling across India, meeting people, and appreciating the country. His blog read: "I’ve spent the last week touring India — visiting the sites, and meeting the amazing people. This week, I’ll be joining members of our executive team as we meet with students from top universities, crypto founders, Indian entrepreneurs, and crypto evangelists."

He also said, “India is a magical place, and I believe crypto has a big future here. We’re excited to help build that future, and this event is an important step.”

Also Read: Maharashtra's Gadchiroli to issue caste certificates via blockchain platform Polygon

Also Read: Crypto crime: Pune police recovers over Rs 84 cr worth of Bitcoins