Coinbase growth sees the company support staff increase five-fold since January while the company is expanding in India
Announcing plans to establish a business presence in India earlier this year, US cryptocurrency exchange Coinbase CEO recently made an official announcement that it is building an office in the country and invite people to join the team. Coinbase has opened an office in India in Hyderabad, a technology hub.
Coinbase is hiring in India as it plans to expand in the region
Founded in 2012, Coinbase offers a platform for users to buy and sell several cryptocurrencies, including Bitcoin, Ethereum, XRP, Litecoin, etc.
”Coinbase is building out an office in India! Amazing team already in place – come join us,” Coinbase CEO cum Co-founder Brian Armstrong said in a tweet.
Coinbase is building out an office in India! ?? Amazing team already in place – come join us.https://t.co/yCaJk681pZ
— Brian Armstrong (@brian_armstrong) July 2, 2021
In a blog post, the company’s VP Engineering and Site Lead of India Pankaj Gupta said ”It is early days for our India tech hub but it has already taken off with an incredible amount of interest in our open roles from across India. We have ambitious plans for this hub in the near future — we want to hire hundreds of world-class engineers in the near term.” Coinbase had appointed Pankaj Gupta to head its India operations in April.
Coinbase planning to hire from all over the country based on a remote-first strategy. “We will have teams in all major areas Coinbase works in today — infrastructure, cloud, platform, payments, crypto, blockchains, data engineering, machine learning, growth, product engineering — to name just a few. These teams in India will be led by local engineering directors, who will have large, independent, and autonomous charters,” said Gupta.
As per the open positions as mentioned on its website here, while almost all are remote job postings (design, engineering, machine learning, HR & Recruiting) as of now, one is based in Hyderabad, India.
This is Coinbase’s biggest expansion since they set up European offices in London, which were later relocated to Ireland. As for Asia, Coinbase seems to have chosen India as its base, a country that has seen significant growth in crypto adoption especially this year. With this Coinbase office and expansion potentially being just the first in a new chapter that may as well be titled: Out with China, in with India.
The company has hired over 3,000 support staff in an effort to keep up with its growing client base
Vice President of customer experience, Casper Sorensen has announced that in an effort to keep up with customer support handling, the company has hired over 3,000 support staff.
The blog post explains that Coinbase recognizes the challenges some of our customers have experienced with their Coinbase accounts, and we want to reiterate that continually improving the customer experience remains a top priority.
“One of the biggest investments we’ve made is in our support staff. We now have more than 3,000 people dedicated to solving customer issues. This represents a more than 5x increase in support staff since January. We’re continuing to hire great people to quickly support our customers’ needs, as well as ensure we’re meeting customers where they are, which includes a growing number of social media platforms”, the report stated.
Sorensen further stated that: “Since January, our customer contact rate (the number of times customers contact customer service divided by the number of monthly transacting users) has been reduced by 70%.”
The reduction in support issues comes off the back of a surge in new users on the Coinbase platform. The total number of verified users on Coinbase has increased from 43 million since January to 56 million within the space of six months, a 30% increase in customers.
Coinbase has managed to stay on top of support issues by hiring over 3,000 support staff. “This represents a more than 5x increase in support staff since January. We’re continuing to hire great people to quickly support our customers’ needs, as well as ensure we’re meeting customers where they are, which includes a growing number of social media platforms,” Sorensen stated.
Coinbase will be rolling out a live chat support feature, as well as virtual assistants, and phone support in the future.
While Coinbase works on improving its internal support structures to accommodate the influx of new customers, CEO Brian Armstrong also announced that Coinbase is looking at launching a crypto app store. The store is set to offer decentralized apps from outside developers.
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