Crypto exchange Coinbase is launching in a new office in the capital of Ireland.
Coinbase vice president of operations and technology Tina Bhatnagar announced late Monday that the exchange is opening a new office in Dublin, Ireland in response to customer growth in the EU. What's more, it's a helpful backstop against the looming exit of the U.K. from the European Union, known as Brexit.
"It is also a plan B for Brexit. As we plan for all eventualities, it's important that we continue servicing our customers across Europe, and Ireland would be our preferred choice there if it comes to it," Zeeshan Feroz, who leads Coinbase's U.K. efforts, told The Guardian.
Martin Shanahan, CEO of the country's inward investment agency IDA Ireland, said in a statement that "Dublin is a talent hotspot," which would aid Coinbase as it scales up.
He added that the company "looks forward to welcoming Coinbase into the Irish economy, and helping them access our talented pool of young professionals from the technology and financial services sectors."
The news comes weeks after the exchange opened a new headquarters in New York to provide services for institutional clients. As previously reported by CoinDesk, this office aims to hire more than 100 employees within the next year.
Irish color garland image via Shutterstock
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.