Coinbase is launching an Engineering Hub in Singapore to boost local talent and drive blockchain and crypto innovation.
Coinbase announced the launch of its new Engineering Hub in Singapore today to foster the local developer ecosystem. Supported by the Singapore Economic Development Board (EDB), this move underscores Coinbase’s deepening commitment to Singapore as a key hub for blockchain innovation in the APAC region.
As part of its expansion plans, the new Engineering Hub will provide engineers in Singapore with resources and training. The initiative will focus on nurturing local talent, encouraging innovation, and advancing the capabilities of Singapore’s blockchain ecosystem. Currently, Coinbase employs over 600 people in the APAC region, including 70 employees in Singapore, which is intended to expand with the launch of this Hub.
Hassan Ahmed, Country Director of Coinbase Singapore, said: “We are thrilled to partner with the Singapore Economic Development Board to launch our Engineering Hub. This move reflects our dedication to supporting Singapore’s vibrant developer community and making Singapore a center for blockchain excellence in Asia. With the Engineering Hub, we hope to empower local engineers to build the future of Web3 and to make cryptocurrency more accessible and useful for everyday financial needs in Singapore. This brings us closer to our goal of increasing economic freedom and onboarding one billion people into the cryptoeconomy, and Singapore one step closer to achieving the digital upskilling goals of the Smart Nation 2.0 strategy.”
Philbert Gomez, Executive Director & Head, Digital Industry Singapore (DISG), said: “Coinbase’s new Engineering Hub is an exciting addition to Singapore’s digital industry. It expands the breadth of opportunities for talent to pursue world-class product engineering work in Singapore and underscores our status as a hub for responsible blockchain innovation. We are pleased to partner with Coinbase in building the infrastructure that will power the future of Web3 from Singapore.”
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This also signifies Coinbase’s crucial recognition of the importance of cultivating a future-proof workforce. 56% of finance-forward Singaporeans believe that crypto is the future of finance. Upskilling engineering talent to meet the needs of emerging technology use cases will ensure Singapore remains a competitive center for financial services and technology.
In October 2023, Coinbase obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore. This marked a key milestone in expanding its presence in the city-state and continuing to build its operations. With this license, Coinbase is well-positioned to offer a broad range of secure cryptocurrency trading and custodial services to retail, accredited investor, and institutional clients in Singapore.
This announcement marks another effort by Coinbase to expand across the APAC region. In July, Coinbase announced that it had been selected by DigitalX, an ASX-listed company, to deliver custody and advanced trading execution services for the recently approved DigitalX Bitcoin ETF (BTXX) through its platform, Coinbase Prime. In August, Coinbase partnered with Shping, an Australian blockchain-based rewards platform, to promote the adoption of blockchain and cryptocurrency technologies among Australian consumers. Coinbase Ventures has also invested in 18 Singapore-based portfolio companies to support the local crypto ecosystem.
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By expanding its partnerships and investments throughout the region, Coinbase remains committed to advancing the global blockchain ecosystem and enabling greater access to cryptocurrencies in APAC markets.
