American cryptocurrency company Coinbase has aggressive plans for its new new York office focused on institutional investors.
The exchange plans to expand the staff of the new office to 150 employees in the next year, despite the fact that now employs 20 people. According to the company, the decline in the cryptocurrency market observed since the beginning of the year, has not affected the demand of institutional investors to a new asset class.
“When we saw that came to the market correction that we all waited companies the interest is not lost”, — said the General Manager of Institutional Coinbase Adam white. “The opposite occurred. They see it as an opportunity to enter until the market too seething.”
Many employees of the local office came to him from traditional financial institutions, such as the new York stock exchange (NYSE), Barclays and Citigroup.
“New York is an extremely deep pool of talent,” said white at an event on Thursday to mark the opening of the first permanent office in the city. “We need to create a bridge between financial services and technology. To do this, we need the best and the brightest minds who have built a career in traditional financial firms.”
To corporate clients feel at ease when visiting the new office, the company has organized security service, comparable to the one that uses the new York stock exchange, said the head of institutional sales Christine Sandler, formerly on the NYSE.
The Sandler notes that the institutional repository, asset management and trading services do not contradict the experience of the company on servicing individual investors. In contrast, the spread on the institutional level is, in her opinion, the key to widespread adoption of cryptocurrencies.
“We want to work with the necessary agencies to help grow the entire ecosystem,” he said. “There is no distinction between institutional and retail customers because many of them will become distributors”.
Coinbase is actively expanding throughout the bear 2018 and employs more than 500 employees worldwide. However, new York is not the only region where the exchange is going to attract institutional clients and focuses on their maintenance staff.
Coinbase also means “to cover new countries and additional Fiat way”, in particular Asia and Latin America, said white. The company has already started opening offices in Tokyo this summer, gathering a small team together and submitting an application to the financial services Agency of Japan.
“We plan not to limit the status of American companies,” concluded white.
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