Coinbase opened its new Singapore office at One Raffles Quay on July 22 and intends to grow its local headcount from roughly 150 to around 200 employees over the next 18 months. The hiring push will concentrate on engineering, customer service, relationship management, and institutional sales.
The timing is striking. Just two months earlier, on May 5, Coinbase announced it would cut about 14% of its global workforce, citing market volatility and a broader shift toward AI-driven operations. The Singapore expansion runs directly against that trend.
Singapore as a long-term bet
According to Singapore country director Hassan Ahmed, the city-state was "much ahead of other jurisdictions and hubs that were also vying to be digital asset hubs" when regulators first built their digital asset framework. He pointed to the country's business-friendly environment, favorable tax structure, and access to capital as concrete reasons Coinbase keeps doubling down there.
Ahmed described Singapore as one of Coinbase's fastest-growing international markets and said the new office gives the company room to work more closely with local authorities and scale partnerships across the Asia Pacific. Stablecoins and broader crypto adoption across Asia were cited as the demand drivers behind the continued hiring, even as the exchange faces fresh pressure on its share price globally.
The One Raffles Quay address puts Coinbase squarely in Singapore's financial district, alongside major banks and asset managers. Getting to 200 employees by December 2026 means adding roughly 50 roles over 18 months, a modest but steady pace for a company that is simultaneously restructuring elsewhere.
This article is for informational purposes only and does not constitute financial advice or an investment recommendation.
