Blockchain.com is the latest company to move its headquarters to South Florida from New York City.
Miami Mayor Francis Suarez made the announcement at a news conference Thursday ahead of the 2021 Bitcoin Conference in Wynwood.
The cryptocurrency exchange is looking to hire 100 people in the next six months and an extra 200 by the end of 2022 with average salaries between $80,000 and $140,000.
The economic impact will be around $33 million.
“It’s about leveraging Miami’s talent against the world’s top companies in order to build towards our goal of becoming a Miami that lasts forever and a Miami that works for everyone,” Suarez said.
Suarez went on to say that although some people are skeptical about cryptocurrencies, he was proud of the city’s efforts to embrace the future.
“We are transforming our economy from a services-based economy and a tourist-based tourism to a tech-based economy, Suarez said.
Blockchain.com CEO and co-founder, Peter Smith, said that the website accounted for 28 percent of all the bitcoin transactions around the world since 2012.
Why move headquarters from New York City to Miami?
“The city has a welcoming regulatory environment, serving as hot bed of crypto innovation, ” Smith said. He also noted that as one of the financial hubs for Latin America, Miami was ideal for recruiting for the company.
Smith said the company also plans to give back to the community by investing in STEM programs.
“The internet will be the biggest economy by 2030 and crypto is the financial system to support it,” Smith said.