American cryptocurrency exchange Coinbase is opening a Dublin office as it looks to gear up its European operations before the UK leaves the EU next year.
San Francisco-based Coinbase says that its London office will remain the firm's European headquarters but the new Dublin operation is part of a Brexit contingency plan.
The startup is looking to hire about a dozen people for the Dublin branch as it looks to grow its business in the EU, its fastest growing market.
Tina Bhatnagar, VP operations and technology, Coinbase, says: "We explored a variety of cities across the EU, and Dublin was the clear choice. Our new office will help us tap into the city’s diverse talent pool and long-standing support for technological innovation, including a burgeoning cryptocurrency economy."
Founded in 2012, Coinbase has emerged as one of the biggest players in the cryptocurrency arena. It now employees around 500 people and is rumoured to be close to completing a $500 million financing round at an $8 billion valuation.