As Coinbase reported in February, the renowned US-based crypto trading platform plans to double its staff from 250 to 500 by the end of the year. Now, Coinbase launches its New York office with the focus on institutional investors and plans to hire 150 people.
According to a crypto contributor to Forbes, Michael del Castillo, Coinbase celebrated the launch of its New York office this Thursday and talked about what Coinbase New York will offer to institutional investors.
According to Adam White, the vice president and general manager of Coinbase Institutional, although the crypto market is bearish, many institutional investors are showing interest in emerging on the market of digital assets.
“When we saw the market begin to correct, which we all expected, institutions didn’t lose interest. It was exactly the opposite. They look at it as an opportunity to enter when things are not too frothy,” said Adam White.
Coinbase New York focuses on institutional investors while Coinbase crypto trading platform continues its expansion
Coinbase launched its New York office and put together a strong team of employees coming from the New York Stock Exchange, Barclays, and Citigroup, showing that crypto market is more and more attractive.
“New York has an incredibly deep pool of talent. We have to create a bridge between financial services and technology. In order to do that, we need to pull from some of the best and brightest minds that have worked their whole careers in other kinds of traditional financial firms,” stated the Coinbase executive during the ribbon-cutting ceremony.
The Coinbase office in New York is just another big leap for the Coinbase expansion plans.
Besides Coinbase New York, the renowned US-based crypto trading platform plans on launching a crypto-backed ETF, while the company already dealt with leading blockchain-focused businesses to establish the so-called Blockchain Association.