Coinbase to Hire Over 1000 People in India This Year: Armstrong

• The company is hosting an event in Bangalore to discuss the future of crypto and web3 in India.
• Coinbase Ventures in partnership with Buidlers Tribe is separately hosting a startup pitch.
• These events will bring together startup founders, students, entrepreneurs, and special guests.

Coinbase is planning to hire 1,000 personnel in India in 2022. Currently, it has 300 staff at its technical hub in Hyderabad, India. In April 2021, Coinbase had hired former Google Pay Lead Google Pay Engineer for India and the Asia Pacific Pankaj Gupta as Vice President Engineering and Site Lead for the India office.

“We are excited to tap into the dynamic Indian software talent to build out our products and will continue to invest heavily in our India hub. We have ambitious plans for India and seek to hire over 1,000 people in our India hub this year alone,” Brain Armstrong said in a blog on Monday. 

Coinbase is hosting an event on April 7 where “special guests” will discuss “the future of crypto and web3 in India,” Coinbase CEO Brian Armstrong informed in a blog on Monday.  

Besides, the investment arm of the Nasdaq-listed digital assets trading platform, Coinbase Ventures is hosting a startup pitch event on April 8 in partnership with Buidlers Tribe.

“Coinbase Ventures has already invested $150 million in home-grown Indian technology companies in the crypto and web3 space, and is constantly identifying new opportunities to help Indian founders scale,” Armstrong said in the blog. 

The Coinbase CEO who is in India for the past week said he is looking forward to meeting crypto founders, Indian entrepreneurs, and students from top universities.

India has built a robust identity and digital payments infrastructure and implemented it at rapid scale and speed, Armstrong notes in his blog.

Coinbase’s plans to hire more people in India come at a time when the government has introduced a hefty 30% capital gains tax and 1% TDS on all cryptocurrency transfers. Besides, the provision to offset losses from one coin to profits from other coins has also been denied to investors.

In February this year, the Chief People Officer at Coinbase, L.J. Brock had announced that the company is looking to hire at least 2,000 employees this year. 

“We’re also expanding to include products that host user-generated content like NFTs, and we’re excited about our ambitious plans for the future of Coinbase Wallet, enhancing security, ease of use, and accessibility,” he had said in a blog in February 2022.