In major news for cryptocurrency investors in India, Coinbase, the largest cryptocurrency exchange in the US by volume, has tied up with India’s United Payments Interface for direct investments in cryptocurrency.
Brian Armstrong, the CEO of Coinbase in a blog the company shared on Twitter said the firm will work with bank partners and regulators in India even as the company plans to hire 1,000 in the country by the end of this year.
“Chalo shuru karein! That’s how you say “Come, let’s get started!” in Hindi and that’s our guiding light as we work to serve and grow the crypto and web3 community in India,” the tweet from Coinbase read.
“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,” Brian said in the blog.
in this regard, the firm is hosting a crypto community event in Bangalore today (April 7) to discuss the future of crypto and web3 in India.
“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. We are excited to tap into the dynamic Indian software talent to build out our products and will continue to invest heavily in our India hub. We have ambitious plans for India and seek to hire over 1,000 people in our India hub this year alone,” read the blog.
“On a personal note, I’ve spent the last week touring India — visiting the sites, and meeting the amazing people. This week, I’ll be joining members of our executive team as we meet with students from top universities, crypto founders, Indian entrepreneurs, and crypto evangelists. India is a magical place, and I believe crypto has a big future here. We’re excited to help build that future, and this event is an important step,” Brian added