Coinbase, one of the United States biggest cryptocurrency exchange firms has revealed that it will be setting up an office in Portland, Oregon. This new office is expected to serve as its official base in the United States’ west coast. This announcement was made on the 28th of June and was released on the Coinbase blog. The information on the Coinbase blog also revealed that before making a decision to set-up a new office in Portland, Oregon and other cities in the west coast of the United States had been considered. After some intense deliberation, Portland, Oregon was selected ahead of the other cities because of the talent that abounds in this city as well as its acceptance of blockchain technology.
This move to open an office in Portland, Oregon is one way in which Coinbase plans to cope with its very fast growth rate which customers are already beginning to say it can’t handle.
A Property has already been leased for Seven Years
According to Coinbase, a lease has already been signed for a new office. This lease is expected to last for the next seven years. Although the office space that they intends to make use of as its base has already been leased, it is still not exactly ready for some serious business. Reports from there blog says that renovations in this new office will begin next week.
The opening of a new office in Portland, Oregon by Coinbase is not only good news to the crypto community in this city; it is also good news to every resident of Portland, Oregon. The reason for this is; the presence of a Coinbase office in this city implies that there will be an increase in employment opportunities for the residents of Portland. It is reported that the presence of Coinbase’s new office in this city will create over 100 jobs this year. Also, as this company expands in Portland, the number of available jobs is expected to increase gradually.
Coinbase is Making Plans to get into Japanese Markets
The opening of a new office in Portland, Oregon is definitely a new achievement for the cryptocurrency exchange company. It, however, is just a small part of what this company plans to achieve before the end of the year. Coinbase has already announced that it is making plans to get into the Japanese cryptocurrency market. To get this done, they are planning to apply for a licence with the Financial Services Agency (FSA), Japan’s financial regulator. This is in accordance with new rules which state that all cryptocurrency exchanges that are operating in Japan have to apply with the Financial Services Agency for the right licensing.