Coinbase’s New NYC Office to Hire 100 in Wall Street Crypto Push
Password Industry Unicorn Coinbase has an aggressive growth plan for its New York office, which is open to institutional clients.
The Digital Asset Exchange plans to expand its business from 20 to 150 next year. According to the company, the fall in crypto-currencing prices this year did not reduce agency demand for this asset class.
Adam White, general manager of Coinbase Institutional, told CoinDesk: "When the market started to be right, institutions did not lose interest as we all expected."
"I think it's an opportunity to get in when things are not too bubbly."
Many of our local staff were hired by traditional financial institutions such as the New York Stock Exchange, Barclays and Citigroup.
New York is "a pool of talented people," White said at an event celebrating the opening ceremony of the first permanent location in the city (formerly employees at WeWork).
"We have to bridge the gap between financial services and technology," he continued. "In order to do that, we need to bring the best and most intelligent minds that have built up all of their careers to other types of traditional financial companies."
Institutions & Retail
To make it comfortable for corporate customers to visit, there is a security staff comparable to the NYSE, according to Christine Sandler, director of agency sales at Coinbase, who previously worked for Big Board.
Sandinler argued that Coinbase's institutional asset retention, asset management and trading services should not have previously focused on retail investors. On the contrary, institutional distribution in her mind is the core of mainstream adoption.
"We want to partner with appropriate institutions to help grow the entire ecosystem," CoinDesk said. "It's not institutional or retail because many institutions will be distributors."
Coinbase is a company that was hired by the bear market in 2018 and has more than 500 employees worldwide. And New York is not the only new office to attract institutional customers and recruits.
Coinbase expects to "expose more countries and more airfields" while considering the expansion of Asia and Latin America "pretty quickly". Coinbase has already started to set up offices in Tokyo this summer. I hired a small team and applied for a financial institution certification in Japan.
"We promise that we are not a US company," White said.
Adam White of Coinbase Institutional (R), James Patchett, CEO of New York City Economic Development Corporation, and Jeff Horowitz (L), Coinbase Chief Compliance Officer,
CoinDesk, a leader in block-chain news, is a media outlet that pursues the highest standards of journalism and adheres to strict editorial policies. CoinDesk is an independent operating subsidiary of the Digital Currency Group, which invests in cryptocurrencies and block-chain startups.
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