Overview
- Coinbase officially opened a 10,000 sq ft office at One Raffles Quay, replacing its previous WeWork space, on July 22.
- The company plans to grow its Singapore headcount from roughly 150 to about 200 employees by the end of 2026, focusing hiring on engineering, customer service, relationship management and institutional sales.
- Coinbase said this targeted expansion is separate from the roughly 14% global layoffs it announced in May and reflects a shift toward AI skills across the firm while keeping local investment in talent.
- The company’s Singapore operations run under MAS approvals granted after in‑principle clearance in October 2022 and a full Major Payment Institution licence in October 2023, and include support for the XSGD stablecoin backed by reserves at DBS and Standard Chartered via StraitsX.
- Coinbase is exploring practical AI–blockchain work, including testing AI agents with stablecoin wallets that could transact on‑chain to create auditable records, a step that could change how payments and tokenized assets are used in the region.