Coinbase (NASDAQ:COIN) is launching a new Engineering Hub in Singapore, supported by Singapore Economic Development Board, in order to foster the local developer ecosystem.
Coinbase noted in a recent update that it is officially introducing an Engineering Hub in Singapore to support the local developer ecosystem.
Coinbase has been growing their engineering team around the world, and this effort in Singapore will advance the blockchain ecosystem, enabling access to cryptocurrencies in APAC markets, and encourage the “local engineering ecosystem to thrive.”
Coinbase confirmed in a blog post the launch of their new Engineering Hub in Singapore, with the aim of fostering the local developer ecosystem.
This move underscores our deepening commitment to Singapore as a key hub for blockchain innovation in the APAC region.
They are pleased to partner with the Singapore Economic Development Board to launch our Engineering Hub.
With the Engineering Hub, we hope to empower local engineers to build the onchain economy and to make crypto accessible for everyday financial needs in the region.
This brings them closer to their goal of increasing economic freedom by onboarding one billion people into the cryptoeconomy, and Singapore one step closer to “achieving the digital upskilling goals of the Smart Nation 2.0 strategy.”
Singapore committed 1% of GDP to “the Research, Innovation and Enterprise 2024 Plan, to make Singapore a competitive hub for research and development and to grow its already impressive base of engineers, scientists and researchers.”
The developer ecosystem is of vital importance to this economy, and “together with the EDB, we look forward to fostering this community.”
As part of expansion plans, the Engineering Hub will provide engineers in Singapore with resources, and training.
The initiative will focus on nurturing local talent, encouraging “innovation, and advancing the capabilities of Singapore’s blockchain ecosystem.”
At present, Coinbase employs 600+ professionals in the APAC region, including 70 employees in Singapore, which is intended to “expand with the launch of this Hub.”
This signifies a key recognition by the Singapore government of the overall importance of supporting a “future-proof” workforce.
56% of “finance-forward” Singaporeans believe that crypto is the “future of finance.”
Upskilling engineering talent to meet the needs of emerging tech use cases will ensure Singapore remains a “competitive centre for financial services and technology.”
By continuing to expand its partnerships and investments throughout the region, Coinbase remains committed to advancing the blockchain ecosystem and enabling access to digital assets in APAC markets.
