Coinbase to Reward Hundreds of New Indian Hires with Cryptocurrency

The Bitcoin exchange Coinbase opened a technology centre in India and began hiring staff. To attract talented specialists, the company offered one-time cryptocurrency payments.

India, let’s go! 🇮🇳🚀

We’re continuing to build out a sustainable, well-rounded tech hub in India. Read the details below and if you’re passionate about crypto, come join us!https://t.co/p9hXsik4Z2

— Coinbase (@coinbase) July 2, 2021

“In the near future we have ambitious plans for this centre — we want to hire hundreds of world-class engineers,” said Pankaj Gupta, Coinbase’s Vice President of Engineering for India.

To attract engineers and acquaint them with the products and services they will be working on, the company launched the Coinbase India Sikka programme. It provides that each new employee will receive a one-time $1,000 in cryptocurrency.

1/5 I am really excited to announce a new offering to all our @Coinbase India employees that we are calling Cikka — short for ‘Coinbase India Sikka’: high voltage:

(“Sikka” means Coin in many languages in India and APAC)

— pnkj.eth (@pankaj) June 30, 2021

Gupta said there is a boom in India of talented developers focused on crypto projects. He believes the financial incentive will help newcomers better understand digital assets and “use that knowledge to create next-generation products.”

In his blog, the vice president noted that Coinbase aims to create teams across all major development areas, including infrastructure, cloud, and payments solutions.

The Bitcoin exchange is also targeting further expansion in India. It is looking to acquire local startups, including to broaden its engineering team.

Coinbase stepped up its efforts amid regulatory uncertainty in the Indian market. In March, the company announced plans to open an office in Hyderabad and posted 10 vacancies in the country.

In May, ForkLog reported that the RBI asked banks to stop relations with trading platforms. Following this, the regulator urged supervised institutions not to refer to the repealed directive banning crypto operations.

In January, a bill was introduced in parliament that proposed a ban on cryptocurrencies, but it was never presented. Later media reported that the Indian government planned to consider the regulation of digital assets.

The government is considering introducing an additional 18% tax on foreign bitcoin exchanges that offer services to Indian residents.

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