Coinbase CEO Plans Massive Crypto Push In India With His Visit This Week

Coinbase CEO Brian Armstrong plans to boost Coinbase’s mission of improving crypto adoption and literacy in India with his scheduled visit this week. Armstrong believes crypto and web3 technologies can help boost India’s economic and financial inclusion goals. Moreover, the firm plans to invest in Indian crypto and web3 startups through its investment arm Coinbase Ventures.

Coinbase CEO Believes in India’s Crypto and Web3 Future

Crypto exchange Coinbase looks to expand its presence in India with a push to the crypto and web3 ecosystem, considering India’s world-class software and technical talent.

Coinbase made an official announcement, “Namaste India,” on its website about a planned visit of Coinbase CEO Brian Armstrong to India on April 7. The main aim is to increase its tech hiring and investments in India.

“We are excited to tap into the dynamic Indian software talent to build out our products and will continue to invest heavily in our India hub. We have ambitious plans for India and seek to hire over 1,000 people in our India hub this year alone.”

Moreover, Coinbase will be hosting a crypto community event in Bangalore on April 7. The company will discuss the potential of crypto and Web3 in India with Coinbase leaders and fellow crypto enthusiasts. On the next day, Coinbase Ventures will host a startup pitch event in partnership with Builders Tribe.

“100+ applications have rolled in for the @BuidlersTribe x @coinbase Ventures pitch day in Bangalore! We have some MIND BLOWING insights on this amazing set of applications!”

Coinbase CEO, along with members of the executive team, will meet with students from top universities, crypto founders, Indian entrepreneurs, and crypto evangelists to further grow crypto adoption and literacy in India.

Coinbase Building Presence In India

The investment arm Coinbase Ventures had previously invested about $150 million in Indian crypto and web3 companies such as crypto exchanges CoinDCX and CoinSwitch Kuber. Furthermore, the company is looking for new investment opportunities in the crypto and web3 startups to help them expand.

“India is a magical place, and I believe crypto has a big future here. We’re excited to help build that future, and this event is an important step.”

Sunil Sharma, co-founder of CoinGape Media said,

India’s has huge potential for Web 3.o use cases and with progress in regulatory clarity more and more value is being created in DeFi and NFT ecosystems.

Interestingly, the company has shown renewed hiring and investment interest in its Indian tech hub amid rising regulatory clarity in India.