Coinbase Pushing Ahead With New Tech Hub in India

2021-7-3 15:20

Coinbase CEO Brian Armstrong has announced that his exchange platform will be getting an office in India, or more specifically, a high-quality tech hub.

The billionaire business executive and investor revealed the development in a tweet shared on July 2. Coinbase’s official Twitter backed the statement up with a tweet of their own, in which they stated:

“We’re continuing to build out a sustainable, well-rounded tech hub in India.”

Both tweets encouraged readers passionate about crypto to join them, and linked to a post on Coinbase’s blog. The post, written by Pankaj Gupta, Coinbase’s Vice President of Engineering and the Indian site lead, details the exchange’s plans and ambitions as they take on the Indian market. For one thing, hiring hundreds of engineers in the near-future. 

“This team of engineers will be complemented by equally high quality product and design teams,” Gupta’s post reads. “As well as support functions such as recruiting and HR to build out a sustainable, well-rounded tech hub.”

He also wrote that Coinbase is exploring start-up acquisitions and hires to support their plans in India.

Coinbase first started hiring in India back in March.

Indian crypto space struggles continue

Coinbase’s announcements come amid ongoing turbulence in the Indian crypto space. While Gupta’s blog post has no shortage of praise for the crypto projects and native talent coming out of India, governmental attitudes in the country towards crypto are filled with uncertainty. 

Most recent reports revealed that the Indian government is considering applying an additional 18% tax on foreign cryptocurrency exchanges operating in the country. Meanwhile, the department of indirect taxes is reportedly exploring whether exchanges should pay goods and services (GST) tax, under current law. Exchanges would pay GST as part of their annual taxes. In a similar vein as brokerages on the stock market.

With local exchanges, the trading fees charged to customers already includes the 18% tax.

The ambivalence towards crypto in India extends to their banks as well as their government. Recent reports revealed that exchanges in the country are struggling to acquire payment solutions since Indian banks have started to distance themselves. 

Since the banks severed ties, exchanges have suffered slow transaction speeds, among other issues. Resulting, in turn, in vast numbers of complaints from their customers.

The banks’ decision has left exchanges dependent on smaller payment solution providers, with at least two turning to AirPay. In other cases, exchanges have held back on immediate settlements, or have only offered peer-to-peer transactions. Some have applied an even stricter take in the latter scenario. WazirX, for example, now only performs peer-to-peer transactions on certain days.

The post Coinbase Pushing Ahead With New Tech Hub in India appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

India Coin (INDIA) на Currencies.ru

$ 6.733E-5 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 1.49 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 999999
Доступно / Всего 0 INDIA

india coinbase tech hub new ahead pushing

india coinbase → Результатов: 30


Фото:

Coinbase expands cryptocurrency trading services across 11 new markets

Coinbase, one of the longest serving exchanges in the cryptocurrency ecosystem, is expanding its services across Latin America and Southeast Asia. As a result of the expansion, cryptocurrency enthusiasts in Argentina, Mexico, Peru, Colombia, Chile, India, Hong Kong, South Korea, Indonesia, the Philippines, and New Zealand will now be able to access the company’s crypto-to-crypto trading services.

2019-4-17 22:00


Avoiding QuadrigaCX’s $190 Million Disaster: How Do the World’s Largest Crypto Exchanges Store Funds?

Canada’s largest crypto exchange QuadrigaCX lost more than $190 million worth of user funds and is unable to reimburse its users. As CCN reported on February 1, the founder and CEO of QuadrigaCX passed away in India with sole control over the company’s cold wallets containing more than $150 million in cryptocurrencies like Bitcoin and Ethereum, and $40 million in cash stored with a third party.

2019-2-3 11:48


Фото:

The Daily: Coinbase Adds Paypal Withdrawals, Gazprombank to Manage Crypto Assets

In this edition of The Daily, Coinbase customers in certain regions can now link their Paypal accounts to withdraw fiat and sell cryptocurrencies. Also, Russia’s third-largest bank is working to launch a digital asset management service in Switzerland, and Koinex, India’s leading crypto exchange, has set up a new development center in Bengaluru, the country’s […] The post The Daily: Coinbase Adds Paypal Withdrawals, Gazprombank to Manage Crypto Assets appeared first on Bitcoin News.

2018-12-7 17:15