Coinbase Opens Engineering Hub in Singapore to Power the Local Crypto Community
Crypto exchange giant Coinbase has continued to spread its influence and presence in the Asia-Pacific region with the announcement of opening a dedicated engineering hub in Singapore that will reach out to supporting local blockchain developers with the aim of empowering the wider crypto ecosystem in partnership with the Singapore Economic Development Board.
This will involve training in blockchain development and providing the needed infrastructure.
Announced on Nov. 6, the new engineering hub of them is part of its larger vision in furthering blockchain technology and building a strong onchain economy in Singapore. The hub will be providing training together with technical infrastructure to the local engineers as it seeks to make crypto solutions more accessible, relevant for everyday financial needs.
With the Engineering Hub, we aspire to enable the creation from local engineers for an onchain economy-to make crypto more usable and accessible, Coinbase said in its announcement.
Creating More Opportunities to Singapore’s Tech Talent
Philbert Gomez, executive director and head of digital industry in Singapore, gave meaning to Coinbase’s move: “The new hub will add to a diverse range of opportunities available for tech talent in Singapore by offering exposure to world-class product engineering, besides contributing to the positioning of Singapore as a world-leading player in blockchain innovation.”
APAC to Take Center Stage in Coinbase Expansion
Setting up the engineering hub underlines them commitment to the Asia-Pacific market, where it already employs more than 600 staff, including 70 in Singapore. Although Coinbase hasn’t as yet indicated how much it intends to grow the Singapore team, the setup of the hub suggests that there is room for more.
Competing Dynamics of Singapore’s Crypto Landscape
The move by Coinbase comes as the San Francisco-headquartered exchange is trying to grow in the APAC region along with other US-based exchanges. Recently, Gemini received in-principle approval for a major payment institution license from Singapore’s Monetary Authority-a sign of increased interest by global crypto players in Singapore’s market.
With its latest move, Coinbase not only solidifies its commitment to blockchain innovation but also is keen on driving the crypto technology adoption across Asia.
