Coinbase Confirms the Opening of a New Office in Portland, Oregon

Coinbase, the largest cryptocurrency exchange platform in the U.S., has confirmed through a press release on its official blog the opening of a new branch in Portland, Oregon.

The exchange platform has mentioned in a statement that their decision to open a new office on the West Coast of the US is due to the significant talent encryption that is present in the area. Before settling on the city of Portland, other cities on the West Coast had been highly considered.

According to the blog post, the opening of the office will offer over 100 new jobs which will benefit the State of Oregon. Coinbase has confirmed that the new lease had been signed for seven years and in the coming weeks, they will embark on the renovation of the place so that it can work for the new business.

Earlier this month, the exchange faced numerous complaints from customers for purportedly continued technical outages due to high demand and nonchalance in response to customers complaints. Business Insider reported on Friday last week. Information recently emerged that shows 134 pages of complaints filed to the U.S. Securities and Exchange Commission (SEC) and the California Department of Business Oversight obtained by Mashable following a five-month FOIA process. A portrayal emerged not of a responsible actor in the crypto space opening the market to new investors, but rather a company overwhelmed by and underprepared for its own success.

Around the same time, the exchange platform has started taking actions to penetrate into the Japanese markets. They are also considering making an application for a license with the financial services agency (FSA) in a move to increase their client base.

Coinbase was founded in 2012 with over 20 million users representing an investment capital of 150 billion dollars. Currently, users can trade in various cryptocurrencies including Bitcoin, Litecoin, Ethereum, Bitcoin cash and soon Ethereum Classic.