Coinbase's Singapore office is officially operational, with plans to increase the local staff to about 200 by the end of the year

Coinbase officially opened its office at Raffles Quay No. 1 in Singapore on July 22. Hassan Ahmed, the National Director of Singapore, stated in an interview with The Business Times that the plan is to increase the local workforce from about 150 to around 200 by the end of 2026, with the fastest-growing positions concentrated in engineering, customer service, relationship management, and institutional sales.

Ahmed described Singapore as one of the most trusted financial centers in the world and one of Coinbase's fastest-growing international markets. This expansion contrasts with Coinbase's global layoffs of about 14% in May this year. Ahmed explained that the company is optimistic about the adoption prospects of cryptocurrencies and stablecoins in Singapore and the Asian region, citing the local clear regulatory framework, friendly business environment, and strong capital flow as attractive factors.

In October 2023, Coinbase obtained a full major payment institution license under Singapore's Payment Services Act and is currently exploring the intersection of AI and digital assets, including equipping AI agents with stablecoin wallets.