The US-based cryptocurrency exchange giant Coinbase that went public on Nasdaq earlier this month continues to expand in India with a new hire actively. The crypto exchange has hired Pankaj Gupta, a former Google Pay engineering lead in India and Asia Pacific, as the vice president of engineering and site lead for India. The crypto exchange went public earlier, which marked a significant milestone for the crypto industry.
The new hire will help build from scratch the company’s technology hub in India.
Announcing the news Tuesday, new hire Pankaj Gupta said that he would be responsible for “leading and building from scratch the company’s technology hub in India.” He also noted that the crypto exchange has started hiring in India, posting several job applications. Coinbase officially announced plans to establish a business presence in the Asian country last month, expecting to open a physical office in Hyderabad and hire talent in engineering, software development, and customer support.
The future of crypto in India is still uncertain.
Coinbase’s expansion to India comes when there is still uncertainty regarding the legal status of cryptocurrency in the country. Since early 2021, several anonymous sources have disseminated rumors on a supposed upcoming crypto ban in India. As reported earlier, Finance minister Nirmala Sitharaman subsequently stated that regulators did not want to “shut all options off” and were willing to allow “certain windows” for people to use digital assets like Bitcoin. The Indian government has expressed intentions of banning cryptocurrencies and criminalize the use of such currencies in the country. However, currently, there are no restrictions as to dealing with cryptocurrencies.