Coinbase, the cryptocurrency exchange giant , is actively pursuing the expansion of its workforce in India, demonstrating a commitment to tap into Indian tech talent despite facing regulatory challenges.
The company is actively recruiting for product and technology positions, both in remote capacities and at its Bengaluru and Hyderabad locations.
Roles being filled include software engineers, engineering managers specializing in platform-payments, data scientists, and vendor management analysts.
Although the exact number of new hires remains undisclosed, approximately 30 open positions have been listed on Coinbase’s LinkedIn page in the past three weeks.
Coinbase Leads Indian Tech Talent Drive Amid Strategic Shifts
Beyond Coinbase, there is a broader trend in the hiring landscape as other cryptocurrency firms, like Gemini, are also setting up tech talent hubs in India. This indicates a broader industry trend, showcasing a collective focus on building technological capabilities in the country.
Coinbase’s recent hiring efforts signal a notable shift in strategy, especially after facing multiple rounds of layoffs since 2022. In January 2023, the company announced the dismissal of around 950 employees.
In June 2022, amid challenging market conditions in the crypto business, Coinbase laid off approximately 18 percent of its global staff, affecting about 8 percent of its India-based workforce.
Coinbase Overcomes Challenges in India, Pursues Talent Despite Regulatory Obstacles
Nevertheless, the company’s venture in India has faced challenges. Significant challenges have emerged, including high taxes on cryptocurrency gains. Additionally, obstacles related to enabling UPI-based payments for transactions on the platform have proven to be notable hurdles.
Coinbase’s dedication to hiring in India mirrors a larger industry trend. Despite previous setbacks, the company persists in investing in talent acquisition.
This commitment comes as Coinbase navigates the dynamic regulatory landscape in the country, showcasing its resilience and strategic focus. Coinbase did not respond to queries at the time of writing.
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