New set-up of Coinbase at Dublin for Brexit deadlock

As per the official Coinbase announcements, the latest set-up of a new office is taking place in Dublin. With this expansion plan, the decision to move to the renowned Irish city is intended to hedge Brexit uncertainty by the company’s presence across Europe.

Well, renowned San Francisco-based cryptocurrency exchange Coinbase continues to expand its presence across Europe. 

The exchange tweetedon October 15th that they are opening a new office in Dublin Ireland after contemplating various sites across the region (EU).

Coinbase U.K. CEO Zeeshan Feroz has officially made a point to specify this development was the part of a strategy to “better service our clients. He also told CNBC in a telephonic interview that the EU was the company’s “most significant market outside the U.S.”

However, some speculate the decision by Coinbase might be part of a plan to offset the ramifications of Brexit by boosting their presence across the European continent.

According to CNBC, Feroz thought the uncertainty surrounding Brexit “played some part in the decision.”

Despite the see-saw "Brexit deal is close/not close", as UK data remains robust. With Brexit negotiations currently deadlocked, European leaders are due to meet in Brussels today aimed at breaking the current impasse. PM May will brief EU leaders on her current Brexit position this evening, where she is expected to provide a potential solution to the Irish border, ahead of a summit dinner for the remaining 27 leaders.

Feroz explained as to how the company reckons that Ireland was a prospective destination for the expansion since it is a growing technological hub, home to a range of talent, and an English-speaking nation.

Tina Bhatnagar, the Vice President of Operations and Technology tweetedthat the new hiring is going on for various roles in the new office of the exchange. The team members would be coordinating current Coinbase operations in London, and would also play host to new business-related functions.

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