Coinbase has opened a new office in Singapore and plans to increase its local headcount from 150 to 200 employees by the end of 2026. The expansion focuses on engineering, client relations, relationship management, and institutional sales.
This move follows Coinbase obtaining a Major Payment Institution license in Singapore in October 2023, underscoring the company's commitment to the region despite recent global layoffs.
Hassan Ahmed, Director of Coinbase in Singapore, noted Singapore's appeal due to regulatory clarity, a favorable business environment, and tax incentives. The expansion reflects Coinbase's optimism about the growth of cryptocurrency and stablecoin adoption in Singapore and the broader Asian market.