Coinbase Opens Office in Dublin to Serve the European Market

The leading cryptocurrency exchange, Coinbase, has announced the opening of its new office in Dublin, the Irish capital city.


Firm Starts European Operations

Coinbase, the U.S.-based leading cryptocurrency exchange, has been working aggressively to grow its business. As part of its growth strategy, the company has taken multiple steps, including the launch of services for institutional customers (Coinbase Custody, Coinbase Prime, and Coinbase Institutional Coverage group), a partnership with Caspian to provide advanced trading tools, the launch of new “bundle” offerings, and plans for adding new coins.

Now to service customers in Europe, the firm has set up its office in Dublin, the capital of Ireland. The announcement states:

The number of Coinbase customers in the European Union (EU) grew faster than any other market in 2017. As we scale, we need to attract the best, most qualified and passionate talent to help us achieve our mission of creating an open financial system for the world.

As reported by Live Bitcoin News earlier this month, the firm is also looking to raise $500 million for further expansion and was in negotiations with investment firm Tiger Global that would value the firm at around $8 billion.

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Dublin’s Growing Eco-System

The firm boiled down their choice to the city to Dublin after looking at various venues across Europe. The Irish capital emerged as the city of choice due to its local talent pool, support for technology innovation, and the growing blockchain community.

Dublin is home to many blockchain facilities and will be hosting a conference being organized by the International Organisation of Standards (ISO) next year.

“Dublin is a talent hotspot for companies like Coinbase as they scale and internationalize critical businesses operations,” said Martin Shanahan, CEO of IDA Ireland, the country’s inward investment agency. He added:

We look 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.

Ireland

A Welcome Development for Ireland’s Fintech Sector

The Dublin office would complement the existing operations in London. As the firm plans to set up new functions, it will create new jobs in the city. It will also help build expertise in blockchain technology.

Expressing his pleasure at the development, Michael D’Arcy T.D, Minister for Financial Services and Insurance, said:

I am delighted that Coinbase is opening an office in Dublin. This decision highlights the competitive offering and attractiveness of Ireland for financial services.

Coinbase continues to take aggressive steps to grow and expand its wings across different geographies. That the firm, which is one of the world’s oldest, largest, and most trusted platforms in the cryptocurrency space, wants to maintain its position as a leading player is evident.

Do you think opening an office in Dublin will help Coinbase grow its business in Europe? Let us know in the comments below.


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Dublin is the Clear Choice for Coinbase as Its Second European Office

Crypto exchange Coinbase has announced that it is expanding its European presence into Dublin giving it access to Ireland’s growing crypto economy.

In the announcement released today, the San Francisco-based exchange said the move to open a new office in Dublin is part of its wider expansion into Europe. With its headquarters for Europe based in London, the move may also have been taken to offset the impact of Brexit.

However, speaking of the announcement, Zeeshan Feroz, U.K. CEO of Coinbase, said that the addition of the Dublin office will complement the operations in London, which will remain the exchange’s headquarters.

“When considering the location of our second European office, Dublin was the clear choice – it’s an English-speaking EU member state that boasts a diverse talent pool, entrepreneurial spirit, and long-standing support for technological innovation,” Feroz added.

As a result of rising customers with the exchange in the EU growing faster than any other market last year, the exchange said that it needed to look for the “best, most qualified and passionate talent” to deliver an open financial system.

“Dublin is a talent hotspot for companies like Coinbase as they scale and internationalise critical businesses operations,” said Martin Shanahan, CEO of IDA Ireland, the country’s inward investment agency. “We look 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.”

News of the Dublin office comes at a time when the crypto exchange is building its product out to different regions. In June, the platform announced that it was expanding its presence to Asia with a new office in Japan. At the time, it was noted that the Japanese office will lay the foundations for “Japan’s crypto investors to access a range of Coinbase’s products.”

In a bid to become more attractive to institutional investors it launched a suite of products in May. These include the Coinbase Custody, the Coinbase Markets, and its Coinbase Prime. Its Coinbase Pro is an evolution of its GDAX platform, which is specifically designed for individual traders.

Founded in 2012, the platform currently has five crypto assets available on it: Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and Ethereum Classic, which are available across 33 countries. Earlier this month, it announced that Ox (ZRX) was now available to trade on Coinbase Pro.

Amid Brexit Uncertainties, Coinbase Announces a New Dublin Office

Coinbase has announced the opening of a new office in Dublin. The decision to move shop to the famed Irish city may be part of a plan to hedge Brexit uncertainty by expanding the company’s presence across Europe.


San Francisco-based cryptocurrency exchange Coinbase continues to expand its presence across Europe. October 15th the company said on are opening a new office in Dublin Ireland after considering a number of locales across the European Union.

Coinbase made the announcement through a Tweet and a blog post by Vice President of Operations and Technology, Tina Bhatnagar. According to Bhatnagar, the Dublin office will allow Coinbase to “[…] tap into the city’s diverse talent pool and long-standing support for technological innovation.”

Bhatnagar noted that the exchange is currently hiring for roles in the new office. Team members will be complimenting current Coinbase operations in London, and will also play host to new business-related functions.

As of press time, the Coinbase careers page lists a handful of open positions located in Dublin. These include opportunities as Support Analyst, Compliance Manager, and Sr. Product Manager.

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Hedging Bets In A Post-Brexit World?

Coinbase U.K. CEO Zeeshan Feroz made a point to say the expansion to Ireland was part of a strategy to “better service our customers.” Feroz told CNBC through a phone interview that the European Union was the company’s “most significant market outside the U.S.”

However, some speculate the decision by Coinbase might be part of a plan to offset the ramifications of Brexit by boosting their presence across the European continent.

According to CNBC, Feroz thought the uncertainty surrounding Brexit “played some part in the decision.”

He explained how the company believes Ireland was a good spot for expansion since it is a growing technological hub, home to a range of talent, and an English speaking nation.

Staff Shakeups Continue At Coinbase

The decision by Coinbase to open up a Dublin office and seek out some new talent is another sign the company is looking to increase their clout and even shake up personnel if necessary.

In early September, Bitcoinist reported that the Coinbase had managed to double their staff while hitting their 2018 hiring target.

Earlier in the year, Coinbase opened up an office in Portland, Oregon and hired new workers after coming face to face with a flurry of criticism for not being prepared on the customer service front.

More recently, the company announced the departure of Adam White, Coinbase’s fifth employee. Around the same time, Charles Schwab Board of Directors Member Chris Dodds was introduced as the newest member of the Coinbase Board.

What do you think about Coinbase’s decision to select Dublin as the location for a new office? Let us know in the comments below!


Images and media courtesy of Bitcoinist archives, Twitter (@Coinbase).