Coinbase Expands Singapore Team Despite Global Restructuring

Coinbase is expanding its presence in Singapore even as it continues a broader global restructuring effort. The Nasdaq-listed crypto exchange plans to grow its local workforce from around 150 employees to approximately 200 by the end of 2026, according to Singapore country director Hassan Ahmed.

The company also officially opened a new office at One Raffles Quay, signaling its long-term commitment to the region.

The hiring drive comes just months after Coinbase announced plans to reduce its global workforce by roughly 14%, or around 700 employees, as part of a restructuring aimed at lowering costs and reshaping the company around artificial intelligence. Despite those cuts, Singapore remains one of Coinbase’s fastest-growing international markets and a key strategic base for its Asia-Pacific operations.

Singapore Becomes a Strategic Growth Hub

According to Ahmed, the company expects the largest hiring increases in engineering, customer service, relationship management, and institutional sales. He described Singapore as one of the world’s most trusted financial centers, offering regulatory clarity, access to talent, and strong capital markets.

The new office is intended to support closer collaboration with regulators, ecosystem partners, and institutional clients as digital assets continue gaining traction across Asia.

Coinbase also sees significant potential for broader cryptocurrency and stablecoin adoption throughout the region, making Singapore a natural base for future expansion.

Regional Expansion Amid Global Cost Cuts

The expansion reflects Coinbase’s strategy of selectively investing in high-growth markets while streamlining operations elsewhere. In May, CEO Brian Armstrong said the company needed to become “leaner, faster, and AI-native” as it adjusted to volatile market conditions and advances in artificial intelligence. The restructuring included reducing management layers and prioritizing AI-focused talent across the organization.

Singapore has become increasingly important to Coinbase since receiving its Major Payment Institution license from the Monetary Authority of Singapore, allowing the exchange to offer regulated digital asset services in the country. Combined with its expanding engineering presence and growing institutional business, the latest hiring plans underscore Coinbase’s confidence in Singapore’s role as one of the leading crypto hubs in Asia.

As regulatory clarity improves across the region and institutional adoption continues to grow, Coinbase’s Singapore expansion may offer a glimpse into where the exchange sees its next phase of international growth.