World’s second largest crypto exchange to grow Singapore headcount to 200

Hassan Ahmed, the company's Singapore country director, told The Business Times on the company expects the strongest hiring growth in engineering, customer service, relationship management and institutional sales.

Coinbase also officially opened its Singapore office at One Raffles Quay on Wednesday. Ahmed described Singapore as "one of the world’s most trusted financial hubs and one of Coinbase’s fastest-growing international markets".

"This new office reflects our long-term confidence in Singapore as a strategic hub for innovation, talent, and responsible growth across the Asia-Pacific, giving us the resources to work more closely with local authorities, invest in talent and scale partnerships."

The logo of Coinbase is displayed on a smartphone screen with the company logo in the background, in Créteil, France, on June 30, 2026. Photo by NurPhoto via AFP

Coinbase secured a full Major Payment Institution license under Singapore’s Payment Services Act in October 2023 and has since increased its investments in Singapore and across the region.

Among its initiatives are support for Singapore dollar-backed stablecoin XSGD through a partnership with StraitsX, as well as Coinbase Business, which provides companies with access to stablecoin payment infrastructure.

Stablecoins are digital tokens designed to maintain a fixed value and are typically backed by fiat currencies such as the U.S. dollar.

Coinbase’s expansion plans in Singapore come even as the company reduces headcount in other parts of the world. On May 5, Coinbase Global announced plans to cut about 14% of its workforce, citing the need to control costs amid volatile markets and advances in artificial intelligence technology, CNBC reported.

The company said it would focus its remaining workforce on AI-related capabilities while streamlining management layers.

Ahmed said Coinbase is increasing hiring in Singapore because it sees a "bright future" for cryptocurrency and stablecoin adoption in the city-state and across Asia. He added that Singapore’s regulatory clarity has made it particularly attractive.

"It was much ahead of other jurisdictions and hubs that were also vying to be digital asset hubs at that time."

Ahmed also cited Singapore’s business-friendly environment, favorable tax policies and strong capital inflows as key advantages.