Coinbase, the cryptocurrency startup that helps customers purchase and promote digital currencies, is opening an workplace in Portland.
The San Francisco-based firm plans to rent as many as 100 workers within the Rose Metropolis by the top of 2018.
Coinbase has greater than 20 million clients who use the platform to handle their digital forex portfolio. It has raised $217 million from buyers like Andreessen Horowitz, DFJ, BBVA, and others. The corporate has 400 workers and plans to succeed in 800 this yr. It additionally has places of work in New York and Chicago.
“Opening a brand new workplace in Portland will assist us faucet into the town’s extremely gifted, progressive open-source and blockchain communities.” Tina Bhatnagar, Coinbase vp of operations and expertise, mentioned in an announcement. “We look ahead to partaking the town’s wealthy expertise pool and its thriving tech group.”
The cryptocurrency trade continues to be a wild west of types. A number of cryptocurrency costs have fallen in recent months; Bitcoin went under $6,000 final week for the primary time since February. Regulators are additionally putting down their foot on this new type of cost.
However others stay assured in the way forward for digital currencies — for instance, Andreessen Horowitz just launched a $300 million fund to spend money on cryptocurrency-related initiatives. In accordance with PitchBook, 179 enterprise capital buyers within the U.S. participated in a minimum of one crypto startup deal previously two years.