SINGAPORE – The largest cryptocurrency exchange in the United States has launched an engineering hub in Singapore to boost the local blockchain developer scene.
Coinbase announced on Nov 6 that it has joined forces with the Economic Development Board to offer Singapore-based engineers the resources and training to advance the local blockchain ecosystem.
It also aims to make cryptocurrencies more “accessible and useful” for everyday financial needs in the region.
“This brings us one step closer to our goal of increasing economic freedom by onboarding one billion people into the crypto economy, and Singapore one step closer to achieving the digital upskilling goals of the Smart Nation 2.0 strategy,” Coinbase said.
Its Singapore’s country director, Mr Hassan Ahmed, told The Straits Times on Nov 6 that the hub will serve as a “structured programme” for undergraduate engineering students enrolled in the exchange’s internship programme, as well as for its newly hired engineers.
He added: “We actively recruit fresh graduates and early-career engineers who may lack crypto experience but share our mission.
“We envision this hub as a launchpad for aspiring Web3 talent in the region, setting them on a path towards fulfilling, impactful careers.”
In 2023, Coinbase was granted a full major payment institution licence under the Payment Services Act. It came about a year after the firm received in-principle approval from the Monetary Authority of Singapore (MAS).
Mr Ahmed said the MAS licence has accelerated Coinbase’s expansion efforts, enabling it to build its Singapore road map with a “firm foundation”.
Its goal is to expand practical use cases of blockchain, especially in areas like payments and fintech integrations. It is also exploring innovations such as artificial intelligence-based crypto trading.
Coinbase provides trading and staking services in Singapore. Staking involves locking up a user’s digital
