Coinbase, one of the world’s leading cryptocurrency exchanges, made an impressive move by actively supporting its workforce in India. The company, focusing on product and technology roles in India, highlighted key positions in Bengaluru and Hyderabad and began actively hiring for approximately 30 positions.
Despite regulatory pressures and challenges in the Indian market, Coinbase is carrying out a recruitment campaign in line with a general trend in the cryptocurrency industry. Companies like Coinbase and Gemini see India as a center for talented and cost-effective technology experts.
The hiring boom for strengthening the technology team in India stands out as a contrasting move compared to the job cuts that affected nearly 950 employees in 2022. The highly cost-effective nature of the workforce in India could be one of the reasons behind Coinbase’s move.
Coinbase’s expansion in India highlights the country’s strategic importance in its global operations. Despite legal obstacles and setbacks, the company’s effort to tap into India’s pool of technology talent aligns with the tendency of global companies to establish Global Capability Centers (GCCs) in the country.
While Coinbase has not shared details about the expansion, the increased focus on recruiting in India suggests wide-scale recognition of the country’s long-term importance for the cryptocurrency exchange. In the dynamic environment of the cryptocurrency industry, India is positioned as a key player in the company’s future endeavors.
Recently, it was announced that Coinbase, the cryptocurrency exchange, reached the highest level of its publicly traded shares, surpassing levels seen since May 2022, marking a significant development.