Coinbase to Open New Crypto Office in Dublin, Ireland
Coinbase has made the decision to open a new office for their company, and this facility will be located in the capital of Ireland.
Tina Bhatnagar, the vice president of operations and technology, made the announcement, after seeing the way that their customer base had grown in the EU. One of the biggest reasons for Coinbase making this move is also to benefit the European Union, acting as a backstop against the potential for the UK to exit it, which is known as Brexit.
This new startup could be valued at up to $8 million by the time the funding round is over. Coinbase announced the decision on Twitter, saying:
Coinbase is expanding its European presence by opening a new office in Dublin. We look forward to tapping into the city's diverse talent pool and contributing to its burgeoning crypto economy. https://t.co/Hn5fLplJs1
— Coinbase (@coinbase) October 15, 2018
Coinbase reviewed all 28 countries in the EU before they settled with Ireland.
Zeeshan Feroz, who heads up the Coinbase sector in the U.K., said, “It is also a plan B for Brexit. As we plan for all eventualities, it's important that we continue servicing our customers across Europe, and Ireland would be our preferred choice there if it comes to it.”
The CEO of the IDA Ireland, which is an inward investment agency, commented that Coinbase would get support from Dublin, due to its role as “a talent hotspot.” He went on, saying that the entity
“looks forward to welcoming Coinbase into the Irish economy, and helping them access our talented pool of young professionals from the technology and financial services sectors.”
Only a few weeks ago, the exchange established an office in New York for institutional investors to have better access to the platform. Hopefully, the office will be able to bring in the 100 employees that they aim to hire in the next 12 months.