Coinbase gears up to hire hundreds of engineers in India, with a sweetener of $1,000 in crypto for new starters
Coinbasewill recruit hundreds of "world-class" engineersfor its new Indian tech hub, it said Friday.
- New starters will get $1,000 in digital currency, in hopes they'll use it to learn about crypto.
- The crypto exchange is also exploring acquisition of start-ups in
Indiaas part of the push.
AdvertisementCoinbase plans to hire hundreds of engineers and other staff for its tech hub in India, who will each be given $1,000 in cryptocurrency when they start, the crypto exchange company said in a blog post Friday.
A "boom in cryptonative talent" prompted the recruitment spree, Pankaj Gupta, Coinbase's site lead in India wrote in the post.
The Indian hub, announced in March, will house engineering, software development, IT services and customer support. Employees will work remotely, at first, given pandemic concerns, but Coinbase expects to open its first physical office of many in Hyderabad.
"We have ambitious plans for this hub in the near future - we want to hire hundreds of world class engineers in the near term," Gupta wrote.
The $1,000 in crypto handed to new employees under the CIkka program - short for "Coinbase India Sikka" - is meant to inspire them to come up with ideas to develop the crypto exchange's range of services.
"Our expectation is that they'll leverage this offering to learn about crypto, and will use this knowledge to help us build the next generation of products," Gupta said.
Coinbase plans to set up locally-led teams in India across all the major areas it works in, from crypto to cloud, to machine learning to platform. While, they will be involved in both global and local projects, crypto investing in India also grew from $923 million until April 2020 to nearly $6.6 billion in May, Bloomberg reported.
"There's never been a more exciting time for builders working in crypto," Gupta said.
As part of the expansion in India, Coinbase is looking into possible start-up acquisitions and "acquihires" - where a company is bought to secure its talent - Gupta said.
Crypto adoption has grown worldwide, driven by increased popularity for decentralized finance, smart contracts and non-fungible tokens, which like bitcoin and ether are built on blockchains.
India marked the next step in the company's global mission as it has already opened hubs in the US, the UK, Ireland, Japan, Singapore, Canada and the Philippines.
For a more in-depth discussion, come on over to Business Insider Cryptosphere — a forum where users can deep dive into all things crypto, engage in interesting discussions and stay ahead of the curve.
China’s crypto crackdown is not likely to stop with Bitcoin mining — stablecoins, software, influencers are also on its radar
Cryptocurrencies aren't all diamonds and roses — lawsuits from people who lost big are piling up with exchanges
Crypto sports sponsorships are heating up again with multi-million dollar deals on the table
The CEO of the world’s largest cryptocurrency asset manager reckons that crypto as an asset class is ‘here to stay’ — Here are 12 of his best quotes
Popular on BI
- MrBeast called out TikTok for allowing a deepfake version of him hawking $2 iPhones to run wild on the app: 'This is a serious problem'
- How an OnlyFans creator earned $60,000 from a 'marathon' livestream
- TikTok's strategy for US dominance is straight out of Amazon's playbook — but creators are the fuel for its flywheel
- Travel Boom: India spends 2X of pre-pandemic level on Airbnb with Goa leading the charge
- Swiggy disburses over Rs 450 cr in loans to 8000 restaurant owners
- Hyundai Motor India says all its vehicles to come with 6 airbags
- Earthquake jolts Delhi and other parts of northern India
- World Bank pegs India's FY24 GDP growth at 6.3% as global headwinds emerge