Coinbase Expands Workforce in India
Global crypto exchange Coinbase is increasing its workforce in India, signaling a significant expansion in product and technology roles. Despite discontinuing services in the country, the company is actively hiring for various positions, particularly in Bengaluru and Hyderabad, and embracing remote working.
Coinbase’s Hiring Drive
Coinbase has posted approximately 30 open positions on LinkedIn in the past three weeks, focusing on key product and technology roles. The recruitment drive includes locations in Bengaluru and Hyderabad, as well as remote work. This move highlights Coinbase’s commitment to tapping into India’s pool of skilled tech professionals.
The Challenges Faced by Coinbase
Coinbase has faced challenges in the Indian market, including high taxes on crypto gains and hurdles in enabling UPI-based payments. The discontinuation of its UPI payment option due to regulatory pressure also impacted its plans to expand its Indian tech hub with over 1,000 employees in 2022.
Renewed Focus on Building a Tech Team
Despite prior rounds of layoffs and a slowdown in hiring, Coinbase’s recent surge in hiring suggests a renewed focus on building a robust tech team in India. This expansion highlights the strategic importance of the country in Coinbase’s global operations.
The Trend of Global Companies Establishing GCCs
The increased focus on hiring tech talent in India aligns with a larger trend of global companies establishing Global Capability Centres (GCCs) in the country. These companies are capitalizing on India’s proficient and cost-effective engineering workforce.
Hot Take: Coinbase Expands Tech Operations Despite Discontinuing Services
Despite discontinuing its services in India, Coinbase is ramping up its tech operations in the country by actively hiring for various positions. This move highlights the company’s commitment to tapping into India’s skilled tech professionals and underscores the strategic importance of India in Coinbase’s global operations. It also reflects a larger trend of global companies establishing tech talent hubs in India. Despite facing challenges in the Indian market, Coinbase’s renewed focus on building a tech team signals its determination to overcome obstacles and expand its presence in the country.
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