Coinbase, the largest U.S. cryptocurrency trading service, is opening a new office in the capital of Ireland, aimed at creating new jobs and developing Irish crypto economy.
According to the official announcement, the Dublin team will compliment Coinbase operations in London and host a variety of new business-related functions.
Tina Bhatnagar, Coinbase VP of Operations and Technology, noted that the decision to operate in Dublin is based on the fact that the numbers of company’s EU-based costumers grew rapidly throughout last year.
“We explored a variety of cities across the EU, and Dublin was the clear choice. Our new office will help us tap into the city’s diverse talent pool and long-standing support for technological innovation, including a burgeoning cryptocurrency economy”, she noted.
In an interview to CNBC, Coinbase U.K. CEO Zeeshan Feroz told that EU is the company’s most significant market outside U.S. Talking about the developments of Brexit and its possible influence on company’s European expansion, he noted: “I think that played some part in the decision”.
Coinbase is expanding its European presence by opening a new office in Dublin. We look forward to tapping into the city’s diverse talent pool and contributing to its burgeoning crypto economy. https://t.co/Hn5fLplJs1
— Coinbase (@coinbase) October 15, 2018
Ireland’s Minister for Financial Services and Insurance Michael D’Arcy welcomed Coinbase’s Dublin expansion.“This decision highlights the competitive offering and attractiveness of Ireland for financial services”, he stated.
Dublin is the second city in Europe after London, where Coinbase has physical presence. This move marks the company’s ongoing interest towards European market and the plans to stay in EU even after Brexit.
It’s worth mentioning that in August Coinbase announced that it is adding British Pound support for UK-based customers. This will help make faster payments with same day deposits and withdrawals from Coinbase to British bank accounts.