The American cryptocurrency exchange Coinbase has introduced a new initiative in Singapore aimed at strengthening the local developer community and supporting the development of the blockchain ecosystem in this region.
New Engineering Center to Support Local Developers
Coinbase has decided to expand its presence in the Asia-Pacific region by opening a new engineering center in Singapore. This center is focused on supporting local developers and enhancing technical skills in the cryptocurrency space. This initiative was announced in a blog post on November 6, where Coinbase explained that it would focus on training and infrastructure needed for blockchain development.
Collaboration with Singapore's Economic Development Board
The new project was created in collaboration with the Singapore Economic Development Board, aimed at connecting local developers with essential resources and support. Coinbase hopes that, through its new Engineering Hub, it will enable local experts to build an economy based on blockchain, simplifying access to digital finance and making cryptocurrencies more useful for everyday needs in the region.
Supporting Local Talent and Strengthening the Crypto Ecosystem
Philbert Gomez, Executive Director of Singapore’s Digital Industry, stated that this move by Coinbase broadens opportunities for local talent, offering them the chance to engage in top-tier product engineering in the crypto space. With this step, Coinbase is clearly signaling its commitment to contributing to the growth and development of the crypto environment in Singapore.
Team Expansion and APAC Region Growth
Coinbase currently employs over 600 people in the APAC region, with 70 of them based in Singapore. The new engineering center could lead to further increases in staff in the country, although the exchange has not yet specified any specific growth targets. This move comes at a time when other U.S.-based exchanges are also strengthening their presence in the region. For instance, in late October, the cryptocurrency exchange Gemini received in-principle approval for a major payment institution license from the Monetary Authority of Singapore, thus supporting its own expansion strategy in the APAC region.
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