Chicago company to open office, cryptocurrency center in Tampa

The Chicago-based fintech agency CoinFlip will open a brand new workplace and cryptocurrency studying lab within the Water Road Tampa District. 

CoinFlip is thought for its Bitcoin ATMs all through the U.S. Up to now, it has 3,500 ATMs throughout 49 states, taking its place on the frontline of cryptocurrency and blockchain expertise.

By choosing Tampa as a website for its workplace outdoors of Chicago, CoinFlip will occupy almost 8,000-square-foot of workplace area in Sparkman Wharf, which is scheduled to open this summer time. Together with the workplace location, the agency will educate the general public on cryptocurrency, set up extra ATMs and create 40 high-paying tech jobs.

“We did a rigorous research on the place to seek out the highest tech expertise and an ideal place to work – the info confirmed it was Tampa,” Ben Weiss, CEO and founding father of CoinFlip, advised the St. Pete Catalyst.  “We’re right here to remain and have already stuffed an honest quantity of positions.” 

The choice to faucet into Tampa wasn’t solely because of the outcomes the research yielded, however a number of components resembling being impressed by the Water Road District and Sparkman Wharf. 

“We had this imaginative and prescient for an experiential studying middle and Water Road Tampa [developed by Strategic Property Partners] has that entrepreneurial spirit. It’s not one other workplace constructing, they’ve constructed a neighborhood,” he mentioned. 

Water Road Tampa is creating 9 million sq. toes of latest industrial, residential, leisure and academic area in downtown Tampa. Sparkman Wharf is the mixed-use waterfront vacation spot inside the district, which options 180,000 sq. toes of workplace area, 65,000 sq. toes of ground-level retail and a transport container park for restaurateurs. 

Weiss described the process-making course of as a “holistic resolution,” and listed different contributing components, together with the College of Tampa’s engineering program and assembly with the Tampa Financial Improvement Council, which helped bridge connections, and his staff talking with Tampa Mayor Jane Castor. 

“We’re honored CoinFlip selected Tampa for this venture and its first-ever company enlargement. Our popularity as a high tech metropolis is rising, and I’m assured our robust expertise pool will probably be an ideal useful resource for the corporate because it seems to develop within the space,” Castor mentioned within the information launch. “Not solely is Tampa an engineering hub, however we’re additionally rapidly changing into a middle for all issues crypto. We’re excited to proceed to construct our presence within the crypto area with the addition of CoinFlip – a real win for the town.”

As a part of the brand new workplace enlargement in Tampa, CoinFlip will open what it’s calling a Crypto Expertise Middle, which will probably be a first-of-its-kind vacation spot within the U.S. that can educate the neighborhood about cryptocurrency and buying digital currencies by way of the corporate’s on-site Bitcoin ATMs, a cornerstone of CoinFlip’s enterprise. It will likely be used to additionally host academic occasions to learn each crypto learners and fans, in response to a information launch. 

“One of many issues that’s exhausting for individuals to know is Bitcoin is decentralized, there’s isn’t a financial institution or authorities shopper safety,” Weiss mentioned. “We’ll present training on how the blockchain works by displaying demonstrations and educating individuals to ensure they’re being good and don’t make investments greater than they’re prepared to make use of. The middle will virtually be just like the Genius Bar at Apple.”

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Weiss mentioned the corporate won’t search new funding in Tampa because the CoinFlip is bootstrapped, and in 2021 it earned a income of almost $100 million. 

CoinFlip was additionally ranked No. 60 on the Inc. 5000, making it the highest-ranking crypto firm included on the listing.