Coinbase Prepares To Hire Hundreds Of Engineers In India, With $ 1,000 Crypto Sweetener For New Beginners

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Coinbase will recruit hundreds of “world-class” engineers for its new Indian tech hub, it said on Friday. New beginners will be given $ 1,000 in digital currency, in the hope that they will use it to learn more about crypto. The crypto exchange is also exploring the acquisition of start-ups in India as part of the push. Sign up for our daily newsletter, 10 things before the opening bell here.

Coinbase plans to hire hundreds of engineers and other staff for its tech hub in India, who will each receive $ 1,000 in cryptocurrency when they start up, the crypto exchange company said on Friday in a statement. blog post.

A “boom in cryptonative talent” has sparked the hiring wave, Pankaj Gupta, head of Coinbase’s India site, wrote in the post.

The Indian hub, announced in March, will house engineering, software development, IT services and customer support. Employees will work remotely, at first, due to concerns over the pandemic, but Coinbase plans to open its first physical office in Hyderabad.

“We have ambitious plans for this hub in the near future – we want to hire hundreds of world-class engineers in the short term,” Gupta wrote.

The $ 1,000 in crypto given to new employees under the CIkka program – short for “Coinbase India Sikka” – is meant to inspire them to come up with ideas for expanding the crypto exchange’s range of services.

“We hope they take advantage of this offering to learn more about crypto and use that knowledge to help us create the next generation of products,” Gupta said.

Coinbase plans to build locally led teams in India across all of the major areas it works in, from crypto to cloud, machine learning and platform. Despite being involved in global and local projects, crypto investments in India have also grown from $ 923 million through April 2020 to nearly $ 6.6 billion in May, Bloomberg reported.

“There has never been a more exciting time for builders working in crypto,” Gupta said.

As part of the expansion into India, Coinbase is exploring possible start-up acquisitions and “acquisitions” – where a company is bought to secure its talent – Gupta said.

Crypto adoption has grown around the world, driven by the growing popularity of decentralized finance, smart contracts, and non-fungible tokens, which, like bitcoin and ether, rely on blockchains.

The hiring wave covers senior and junior roles in product management, user experience, program design and management. There will also be an HR and recruitment team.

India marked the next step in the company’s global mission as it has already opened hubs in the United States, United Kingdom, Ireland, Japan, Singapore, Canada and the Philippines.

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