Coinbase is reportedly looking to set up office in New York

by Gordon James

In April, the cryptocurrency exchange Coinbase received approval from the New York State Department of Financial Services to register as a money transmitter and offer securities in the state. The license will allow Coinbase to expand their operations into New York, the second most populous state in the US.

According to a recent report, the popular cryptocurrency exchange Coinbase is planning on setting up an office in New York. This move would mark the exchange’s final move into the U.S., where it is currently headquartered in San Francisco.

Coinbase, a cryptocurrency exchange that allows users to buy and sell Bitcoin, Ethereum, and Litecoin is reportedly looking to set up office in New York City. The Wall Street Journal reports that Coinbase is in the process of hiring staff for its new office in the city’s Flatiron District.

The largest crypto-currency exchange in the United States, Coinbase, is reportedly opening its first office in New York. A Nasdaq-listed cryptocurrency exchange has reportedly leased 30,000 square feet to Point72, the investment firm of Stephen Cohen, in the Related Companies building at 55 Hudson Yards in New York City, the New York Post reported Sunday. Citing sources at the real estate company, the report says Coinbase’s future New York office is only a small part of the 339,000 square foot Point72 tower. The report also notes that the Hudson Yards area is known primarily for its corporate, media and legal sector tenants, but not for technology companies. It’s a new user brand, not just for Related’s Hudson Yards, but for the entire Far West Side, according to a market observer. The largest cryptocurrency exchange in the US, Coinbase, has made even more news this year after joining the Nasdaq exchange in April. The company is known to have CEO and co-founder Brian Armstrong officially announce his unheadquartered position in February 2021. Last month, Coinbase planned to close its San Francisco office in 2022 as part of the company’s drive to be the first remote. Related: Coinbase hires former White House advisor for new political position Armstrong noted that the closure of Coinbase’s headquarters in Golden Gate City will be an important step in ensuring that no office becomes an unofficial headquarters. Instead, we will offer our employees a network of small offices from which they can work if they wish, he said. As Cointelegraph previously reported, Coinbase’s position on remote priority mirrors that of its rival Binance, the world’s largest cryptocurrency exchange. Binance CEO Changpeng Zhao said back in 2019 that the office and headquarters are old concepts like SMS and MMS.Even though it’s been released in the US since 2014, Coinbase is still operating mainly as an online wallet for those who need to buy, sell, or trade cryptocurrency. However, the the San Francisco-based startup has now allegedly been looking at setting up an office in New York in order to offer more services to their customers in the physical world.. Read more about coinbase office address and let us know what you think.

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