The Indian tech hub of American digital currency trading platform, Coinbase Global Inc is hosting a crypto community event in Bangalore this week to discuss the future of the nascent industry. As contained in a blog post shared by Brian Armstrong, the exchange’s Chief Executive Officer, India occupies a pivotal position in the company’s growth plans.
“India has built a robust identity and digital payments infrastructure and implemented it at rapid scale and speed. Combined with India’s world class software talent, we believe that crypto and web3 technology can help accelerate India’s economic and financial inclusion goals,” he said in the blog post.
Riding on the growing clarity of regulations in the country, the community event is slated for April 7th and will feature the exchange’s top executives, industry leaders, crypto evangelists, and other stakeholders in the country’s digital assets ecosystem. The event will shortly be followed by a startup pitch event on Friday, April 8th, with innovative cryptopreneurs given the opportunity to sell out their works in hopes of landing funding.
The event is in partnership with Builders Tribe, a company that mentors crypto startups and helps them get funding opportunities in the broader ecosystem.
Powering Coinbase Tech Hub and Innovation in India
According to Brian Armstrong, Coinbase seeks to power the tech hub in the Asian nation through its Coinbase Ventures arm, in furtherance of its role in the ecosystem in which it has invested a total of $150 million in crypto native firms thus far.
“Coinbase Ventures has already invested $150 million in home-grown Indian technology companies in the crypto and web3 space and is constantly identifying new opportunities to help Indian founders scale. Coinbase’s Indian tech hub was launched last year and already has over 300 full time employees across India’s state and regions,” Armstrong added.
Beyond the community event and the supposed funding for startups, Coinbase has plans to increase the workforce across India to over 1000 in a bid to continue its expansion plans. The move to spread its tentacles to various regions beyond the United States has come off as a major milestone for Coinbase in recent times.