Photo via Sparkman Wharf/Facebook
Despite the market's current crisis
, a cryptocurrency financial services provider, announced it will open a new office in the Walter Street Tampa district this summer.
The Chicago-based company's new 8,000-square-foot space will be part of Sparkman Wharf, and feature on-site Bitcoin ATMs and Trade Desk.
CoinFlip says it hopes to hire at least 40 new positions during its first year of operation in Florida.
The Tampa office is CoinFlip's first expansion attempt, as the company looks to introduce digital currency on a broader spectrum.
Alongside the office, CoinFlip will open a Crypto Innovation & Experience Center and host education events in pursuit of educating and guiding the masses in all things crypto.
"This is a huge milestone as we look to not only bridge the gap between the digital economy and financial services, but it also represents a pivotal moment in the type of investment we are making in our CoinFlip family," CEO and founder of CoinFlip, Ben Weiss said in a press release
Weiss says choosing Tampa as CoinFlip's second location was methodical, as he believes the city is "quickly becoming a crypto hub" for the United States.
The crypto market is currently plunging, losing over $1 trillion in the last 6 months, and the industry's leader, Bitcoin, down over $10,800 per share in the past month.
Tampa Mayor Jane Castor, who once said she would be paid in Bitcoin
, says this partnership is "a true win for the city" in the press release, and stated that she believes the area's talent pool will be a great resource as CoinFlip looks to innovate and expand.