Coinbase to Expand Singapore Headcount to 200 Despite Global Job Cuts

Coinbase plans to expand its Singapore team even as it cuts jobs globally.

Bloomberg reported on July 22 that Coinbase plans to increase its Singapore headcount to 200 from 150 by year-end. Hasan Ahmed, head of Coinbase’s Singapore unit, told The Business Times that hiring will focus on engineering, customer service, relationship management and institutional sales.

Coinbase also opened a new office in Singapore this week. Ahmed said Singapore and the broader Asian market have strong potential for wider adoption of cryptocurrencies and stablecoins. The city-state also offers a business-friendly operating environment, favorable tax policies and strong capital inflows, he added.

The hiring push in Singapore comes as Coinbase carries out a restructuring that will cut 14% of its global workforce, citing volatile market conditions and advances in artificial intelligence technology.