Coinbase Establishes Germany as Regional Talent Hub, Part of ‘Go Broad, Go Deep’ Strategy

Bits Logics Team . 18th Oct 2023
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  • Coinbase has officially declared Germany will become its Regional Talent Hub.
  • This is Coinbase’s strategic move to enhance its presence in the European market.
  • Coinbase plans to roll out a series of operational and people announcements in other key European markets

Coinbase, a giant crypto exchange platform, has officially declared Germany will become its Regional Talent Hub as a strategic move to enhance its presence in the European market. This announcement is part of Phase II of Coinbase’s ‘Go Broad, Go Deep’ international market strategy.

In 2021, Coinbase made history by becoming the first cryptocurrency company to receive a crypto license from BaFin, the German regulatory body, for crypto custody and trading. Since then, the company states that its German operations have experienced remarkable growth, more than doubling its headcount in the last year. Establishing Germany as a Talent Hub also aligns with Coinbase’s commitment to expand its product and service offerings across Europe while leveraging the country’s vibrant Web3 ecosystem.

Daniel Seifert, Vice President and Regional Managing Director, EMEA at Coinbase, expressed his enthusiasm about the move, stating:

“Since entering the market, we’ve been impressed by the regulatory clarity, as well as Germany’s commitment to tech innovation and the vibrant Web3 ecosystem.  Its deep developer talent pool, as illustrated at our recent BASE meet-up during Berlin Blockchain Week, is a particularly exciting prospect, as we look to expand our products and services across the region.”

A study showed that 6% of the German population is invested in cryptocurrency, reflecting the country’s growing interest in digital assets. Moreover, Germany’s blockchain sector has attracted significant investment, with $355 million in venture capital funding pouring in this year alone. These figures demonstrate the nation’s robust position in the global blockchain landscape.

Nana Murugesan, Vice President of International and Business Development at Coinbase, also highlighted the increasing migration of Web3 firms to Europe, making the continent a leader in the Web3 space. He further stated that Germany is Coinbase’s second-largest international market, and the talent available in the country is “super exciting.” With this in mind, Murugesan believes that it’s a natural choice for Coinbase’s regional talent hub.

Over the next two weeks, Coinbase plans to roll out a series of operational and people announcements in other key European markets, including Ireland, Benelux and Nordics, Spain, and Italy. These strategic moves underline Coinbase’s commitment to deepening its roots in Europe and strengthening its position in the global cryptocurrency market.