Coinbase has reportedly said that it will double its staff members from 250 to 500 by the end of this year, but recently the existing staff observed that 500 people have already been employed and are being paid even during bearish market conditions.
We see this growth as constant because the San-Francisco based firm, Coinbase has just finished the ribbon cutting ceremony of its new office in New York. The ceremony also included a series of events and talks to familiarise institutions with their upcoming plans.
In a conversation, it was reported that the new office has plans to expand by employing around 150 people by next year, whereas, the current count of employees working today is merely 20. The newly opened office has hired employees from some prestigious and traditional financial institutions namely, the New York Stock Exchange, Barclays, and Citigroup.
The Blockchain association, a lobbying group based in Washington DC, aims to grow crypto by convincing governmental bodies to give it some room by honoring it with the required freedom in a bid to encourage innovation. Reportedly, Coinbase and leading blockchain firms have shook hands to establish and grow the Blockchain Association.
Crypto startups, even during bearish market conditions aim to lead the market and already have aggressive growth plans in terms of office location, products, services, and solutions.
“We have to create a bridge between financial services and technology….. In order to do that, we need to pull from some of the best and brightest minds that have worked their whole careers in other kinds of traditional financial firms,” Adam White, the General Manager of Coinbase Institution. “New York is an incredibly deep pool of talent,” he added.
It has been further reported that the newly inaugurated New York office is not the only one attracting institutional clients and investors. Coinbase is searching to “light up more countries and more fiat rails, pretty quickly,” as White said. It targets to expand in some parts of Asia and Latin America. White also stated that Coinbase is not committed to be a U.S. based company and so it has already started to establish an office in Tokyo and has applied for a Financial Services Agency certification in Japan.