Coinbase Launches Institutional-Focused New York Office, Eyes Expansion

Coinbase Launches Institutional-Focused New York Office, Eyes Expansion

Coinbase New York is now officially open.

— Michael del Castillo (@DelRayMan) September 13, 2018

“When we saw the market begin to correct, which we all expected, institutions didn’t lose interest. It was exactly the opposite… They look at it as an opportunity to enter when things are anekdot too frothy.”

But don’t count out the current staff members, as it was noted that a majority of the current local team were poached from the New York Stock Exchange, Barclays, and Citigroup, which goes to show that this industry is truly gaining traction, even in legacy markets. The Coinbase executive acknowledged this in the aforementioned ribbon-cutting ceremony, in which he noted:

“New York has an incredibly deep pool of talent… We have to create a bridge between financial services and technology. In order to do that, we need to pull from some of the best and brightest minds that have worked their whole careers in other kinds of traditional financial firms.”

Coinbase Continues Expansion

As alluded to earlier, even amid a bear market, the leading crypto startup is still eying aggressive expansion plans, both in terms of office locations and the products, services, and solutions the firm supports.

Coinbase has reportedly begun to consider a crypto-backed ETF, birli covered by a previous Ethereum World News article. Insiders claim that the firm has its eyes on establishing lahza exchange-traded fund that will track the price of a variety of assets, likely the five assets already widely available in Coinbase’s ecosystem.

In related news, Coinbase has joined hands with leading blockchain-centric firms to establish the so-called “Blockchain Association.” For those who haven’t been keeping up-to-date with the most recent news, the Blockchain Association is a Washington D.C.-based lobbying group that intends to convince governmental bodies to give the crypto space some well-needed regulatory leeway in a bid to foster innovation.

Keeping these two recent developments in mind, it makes sense that Coinbase is still seeking to bolster its staff, even if it means poaching talent from legacy institutions and prominent schools and startups.

Photo by Anthony DELANOIX on Unsplash

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