Coinbase is hiring to build an app for its professional trading platform

Quick Take

  • Coinbase is seeking staff to build a new mobile app for its professional trading platform
  • Coinbase Pro is a spin-out of GDAX, its former institutional-grade exchange

Coinbase, the U.S.-based cryptocurrency exchange operator, is seeking talent to build out a mobile-application for its professional trading platform, according to people familiar with the matter. 

Coinbase, which announced Tuesday it closed a $300 million fundraise, is now valued at more than $8 billion. The firm has been expanding at a breakneck rate since the beginning of 2018, breaking its institutional exchange GDAX into a number of operations in May, including Coinbase Markets, Coinbase Prime, and Coinbase Pro. The latter service, Coinbase Pro, is aimed at professional traders, the firm says. Now, the firm is looking to launch a mobile app for the platform. Already, Coinbase has a mobile app for its consumer brokerage, which allows users to buy cryptos such as bitcoin and bitcoin cash. At the height of bitcoin mania in 2017, Coinbase was among the most popular finance apps in terms of downloads, according to App Annie data. But the bear market brought its download ranking to new lows over the summer

Coinbase is advertising job openings for an iOS Engineer and Android engineer to build the new app. "The future of digital currency is on mobile," the ads said. "This is where you come in."

THE SCOOP

Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

A person familiar with Coinbase's business told The Block the new app has been a priority for the firm. But the company previously didn't have enough mobile developers in-house to devote significant time to the project. 

 


© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Frank Chaparro is the Editor At Large at The Block. Chaparro started his career at Business Insider, where he specialized in the intersection of digital assets and Wall Street, market structure, and financial technology. Soon after joining Business Insider out of Fordham University, Chaparro was interviewing top finance and tech executives, including billionaire Mark Cuban, “Flash Boys” star Brad Katsuyama, Cboe Global Markets CEO Ed Tilly, and New York Stock Exchange President Tom Farley. In 2018, he become a sought after reporter in the crypto world, interviewing luminaries such as Tyler Winklevoss, the cofounder of Gemini, Jeremy Allaire, the CEO of Circle, and Fundstrat head Tom Lee. He runs his own podcast The Scoop and writes a biweekly eponymous newsletter. He leads special projects, including The Block's flagship podcast, The Scoop. Prior to The Block, he held roles at Business Insider, NPR, and Nasdaq. For inquiries or tips, email [email protected].