Coinbase Launches New Engineering Hub in Singapore to Support Local Crypto Ecosystem

Coinbase, one of the world’s leading cryptocurrency exchanges, is strengthening its presence in Singapore with the launch of a new engineering hub. The initiative, announced on November 6, aims to support local developers and accelerate blockchain innovation in the region.

The new hub, set up in partnership with the Singapore Economic Development Board, will focus on advancing blockchain technology, providing training, and improving infrastructure for developers. Coinbase's move underscores its commitment to fostering the growing crypto ecosystem in Singapore and expanding its operations across the Asia-Pacific (APAC) region.

Philbert Gomez, Executive Director and Head of the Digital Industry Singapore, highlighted the importance of Coinbase's initiative, noting that it “expands the breadth of opportunities for talent to pursue world-class product engineering” in Singapore. This move is seen as part of Coinbase’s broader strategy to evolve the local crypto landscape and further integrate blockchain technology into the region's digital infrastructure.

Strengthening APAC Presence

Coinbase’s expansion in Singapore follows the company’s growing footprint across the Asia-Pacific region, where it already employs over 600 staff, including 70 in Singapore. The launch of the engineering hub suggests that the company may expand its local team even further, although specific growth targets have not been disclosed.

This move is part of a broader trend of U.S.-based crypto exchanges seeking to solidify their presence in Asia, a region that is increasingly becoming a hub for blockchain and digital asset innovation. Notably, Gemini, another prominent U.S. exchange, recently secured in-principle approval for a Major Payment Institution License from Singapore’s Monetary Authority, further highlighting the region’s significance in the global crypto space.

Coinbase's Vision for the Future

With its new engineering hub, Coinbase is not only investing in local talent but also aiming to become a key player in the development of Singapore’s blockchain infrastructure. The company’s focus on providing resources and tools for developers aligns with its broader mission to empower global users and build a more accessible and secure financial system.

In the coming years, Coinbase hopes to continue nurturing the local developer ecosystem and driving innovation in the digital asset space, ultimately contributing to the growth of Web3 technologies in Asia.