Sunday 21 April 2019

US-headquartered Coinbase opens new office in Dublin as part of Brexit contingency plan

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Louise Kelly

Louise Kelly

A US-headquartered digital currency exchange intends to expand Ireland's crypto economy as it opens an office in Dublin.

Founded in San Francisco in 2012, Coinbase supports five assets on its consumer app: Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic and Litecoin.

With more than 500 employees worldwide, the company has offices in San Francisco, Chicago, New York, Portland, Tokyo, London and now Dublin.

Coinbase, which became available to European customers in 2014, is used in 33 countries, and ZRX is expected to be added to the app in the coming weeks.

The group's London office, which opened in May 2017, will remain the European headquarters but the opening of the Dublin office is part of Coinbase's Brexit contingency plan.

UK CEO Zeeshan Feroz said that the development reflects the company's growing presence in Europe, which is currently its fastest growing market.

"When considering the location of our second European office, Dublin was the clear choice - it’s an English-speaking EU member state that boasts a diverse talent pool, entrepreneurial spirit, and long-standing support for technological innovation," he said.

"The Dublin team will compliment Coinbase operations in London and host a variety of new business-related functions, including roles for which we’re hiring right now."

Coinbase could not give an exact figure in terms of job numbers but stated that all open roles could be seen in the careers section on their website.

Minister for Financial Services and Insurance Michael D’Arcy said that Coinbase's decision to locate here "highlights the competitive offering and attractiveness of Ireland for financial services".

"Dublin is a talent hotspot for companies like Coinbase as they scale and internationalise critical businesses operations," said Martin Shanahan, CEO of IDA Ireland.

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