As a seasoned researcher with a background in both technology and finance, I find Coinbase’s latest move to establish an engineering hub in Singapore not only intriguing but also highly strategic. Having lived and worked in Asia for several years, I’ve witnessed firsthand the region’s rapid growth and adoption of innovative technologies.
The digital currency trading platform, Coinbase, has recently announced a fresh endeavor in Singapore aimed at nurturing the local community of developers.
Coinbase is strengthening its commitment to Singapore by establishing a new technology center, primarily designed to assist local software engineers and boost its influence within the Asia-Pacific market.
On November 6th, a US-based cryptocurrency trading platform announced the creation of a new center aimed at furthering blockchain technology through education and infrastructure development. This venture is being established in partnership with the Singapore Economic Development Board.
By establishing the Engineering Hub, our aim is to equip regional engineers with the necessary tools to construct a blockchain-based economy. Our goal is also to simplify and render cryptocurrency more practical for everyday monetary transactions within the local area.
Coinbase
Philbert Gomez, who is both the executive director and leader of the digital industry in Singapore, stated that Coinbase’s recent decision will widen the selection of possibilities for professionals to engage in top-tier product engineering within Singapore. This action suggests that Coinbase aims to transform the local cryptocurrency environment in Singapore.
Coinbase, with around 600 employees across the APAC region and 70 based in Singapore, hinted at potential future growth in Singapore following the establishment of a new regional hub. Yet, they have not revealed any exact goals for this expansion.
The growth of this exchange is taking place as other U.S. exchanges are trying to build a more substantial presence in the region. In late October, Gemini received preliminary approval for a significant payment institution license from Singapore’s Monetary Authority, moving forward with their expansion strategy in the APAC (Asia-Pacific) region.
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2024-11-06 10:45