Coinbase to set up its office in Hyderabad, despite of uncertainty in India

US cryptocurrency exchange Coinbase said the company is planning to establish its business in India.We expect to open a physical office, has decided to set up its base in Hyderabad, for Indian employees as COVID-related conditions allow," the company said in a blog post.

This comes amid Indian government's ongoing discussion regarding cryptocurrency regulation.

We are happy to announce that Coinbase is establishing a business presence in India. By housing some IT services, including engineering, software development and customer support operations in India, we will benefit from its huge pool of world-class engineering talent,” the company said in its blog on March 25.

Coinbase has founded in 2012, is planning to list in the US exchanges. It exchanges cryptocurrencies like Bitcoins and Ethereum, and has 43 million users. The group will work with the talents here to develop new ways for its customers to interact with the crypto economy. The talents will also have the option to work across various locations in their country of hire.