Coinbase debuts engineering hub in Singapore to empower local crypto community

Crypto exchange Coinbase has launched a new initiative to support the local developer ecosystem in Singapore.

Coinbase is investing in Singapore with a new engineering center aimed at supporting local developers and expanding its presence in the Asia-Pacific region.

The new center will focus on advancing blockchain through education and infrastructure, the US-based crypto trading platform said in a blog announcement on Nov. 6. The initiative was created in collaboration with the Singapore Economic Development Board.

“With the Engineering Center, we hope to empower local engineers to build the on-chain economy and make crypto more accessible and useful for everyday financial needs in the region.”

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Philbert Gomez, managing director and head of Singapore digital industry, said Coinbase’s latest move signals the exchange’s intention to develop the local crypto landscape while “expanding opportunities for talent to pursue world-class product engineering” in Singapore.

Coinbase, which employs over 600 staff in the APAC region, 70 of whom are in Singapore, stated that the new center could lead to further expansion of the team in the country. However, it did not specify specific targets for this growth.

The exchange’s expansion comes as other US-based exchanges also seek to establish a stronger presence in the region. In late October, Gemini advanced its own APAC expansion strategy by gaining in-principle approval for a major payment institution license from the Monetary Authority of Singapore.