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Digital Currencies. Grocery Innovation. Healthcare Payments. The San Francisco, California-based company that is popular for offering a platform to sell cryptocurrencies including Bitcoin and Ethereum also revealed that it wanted to open a physical office in the country. The new move by Coinbase comes amid speculations around a cryptocurrency ban in India.
Coinbase said in a blog post that it was planning to run its backend in India by establishing engineering, software development, and customer support operations for people who want to buy and sell cryptocurrency. Coinbase is planning to enable a remote-first environment for its local employees in the country, but it does want to open a physical office that could initially be set up in Hyderabad.
Coinbase has also posted tens of openings on LinkedIn that are specifically to hire Indian talent. There are positions starting from backend engineers to engineering and product managers. Coinbase's announcement about its establishment in India comes at a time when the government said to propose the cryptocurrency ban and penalise miners and traders of popular cryptocurrencies including Bitcoin and Ethereum.
The government was also planning to table the bill specifically to impose restrictions on private cryptocurrency transactions in the country. Coinbase is, notably, working towards hiring talent in India to expand its backend operations.
Its listing would also underline how cryptocurrencies have surged in popularity in the pandemic. The price of Bitcoin , the best-known digital currency, has broken records since November.
Bitcoin Price (BTC). Bitcoin logo. Bitcoin price Jump start your crypto portfolio with free Bitcoin after you sign up. Don't miss out on breaking news. Get the. Stories from the easiest and most trusted place to buy, sell, and use crypto. Product News · Pro · Custody / Institutional · Around the Block · Engineering.
Coinbase added that it had never been hacked. It said 0. The company said it educated its users on how to keep their accounts secure. Compared with banks and regular money, digital currencies and financial exchanges carry an extra degree of risk.
Open Account. Coinbase Pro also has over trading pairs available worldwide nearly 40 trading with USD and more than 40 crypto to crypto trading pairs in 42 regions. Coinbase opts for direct listing over IPO. It has since attracted more than people, many of whom bemoan how they cannot get into their accounts. Tech companies in the Stoxx Index capped their best five days since November, while retail and energy retreated during the week. The new hires in India, Canada and elsewhere will have the option to work across various locations in their country of hire. By Mitch.
Unlike money transferred through a bank, Bitcoin can be traded instantly and transactions cannot be reversed or, often, traced to an individual, making it easier to steal. Coinbase was founded in by Brian Armstrong, who is the chief executive, and others. At the time, Bitcoin and other cryptocurrencies had just started emerging as a way to decentralize finance by allowing people to send money to one another across the globe without the need for a bank.
But trading Bitcoin without help from an institution proved tricky.
So Mr. The company would take a fee each time a customer placed an order. Today, Coinbase has 43 million customers, according to its offering prospectus.
In December, it filed to go public. It plans a direct listing, in which no new shares are issued. As Coinbase has grown, it has fielded customer complaints.