Coinbase, a large cryptocurrency exchange that went public on Nasdaq earlier this month, continues to expand in India with new hires.
The cryptocurrency exchange has hired Pankaj Gupta, a former Google Pay engineering leader in India and Asia Pacific, as India’s vice president of engineering and site leader.
The news was announced on Tuesday, Gupta He said that he will be responsible for “leading and building the company’s technology hub in India from the beginning.” He too noted that Coinbase started hiring in India, posting several job applications.
Coinbase officially announced plans to establish a business presence in India last month, expecting to open a physical office in Hyderabad and start hiring talent in engineering, software development and customer support.
“The plan is to hire hundreds of employees at all levels in engineering, product management, UX design, research and program management within the next 1–2 years to build a full technology hub in India,” Gupta stated in a blog post.
“To support our ambitious growth plans in India, we will also be exploring start-ups and acquisitions,” he added.
Coinbase’s expansion into India comes amid considerable uncertainty over the legal status of cryptocurrency in the country. Since the beginning of 2021, several anonymous sources have spread rumors of a supposed crypto ban coming in India. Subsequently, finance minister Nirmala Sitharaman noted that regulators did not want to “shut off all options” and were prepared to allow “fixed windows” for people to use digital assets such as Bitcoin (BTC).