Coinbase, a popular cryptocurrency exchange, has announced a significant expansion in Charlotte by leasing office space in the 110 East building.
Coinbase Expansion in Charlotte
Coinbase is leasing 58,600 square feet of office space on the 18th and 19th floors of the 110 East building in the city's South End. This new office space will serve as a 'Center of Excellence' aimed at supporting the company's corporate objectives.
Growth of the Fintech Sector
The expansion is part of a broader national hiring initiative that aims to create 1,000 jobs across the country. Notably, over 130 of these roles will be based in Charlotte, further solidifying the city's reputation as an emerging fintech hub.
Security and Recent Incidents
This expansion comes amid scrutiny of Coinbase's security practices. The company has been linked to a January incident involving an employee from the third-party vendor TaskUs, operating in India, occurring months before Coinbase publicly disclosed the security breach.
Coinbase’s expansion in Charlotte highlights the city’s growing importance in the fintech sector, though the company is facing challenges regarding security.
