Chicago cryptocurrency startup to open office in Tampa
Chicago cryptocurrency startup to open office in Tampa
A Chicago cryptocurrency startup known for its bitcoin ATMs will open an office in Tampa, and its CEO says the city is “quickly becoming a crypto hub for the U.S.”
CoinFlip, founded in 2015, has leased 8,000 square feet of office space in Sparkman Wharf, where it plans to create 40 jobs, including engineering roles, in its first year in Florida. It will also open a “Crypto Experience Center” that the company says will be the first of its kind in the U.S. The center will include one of CoinFlip’s bitcoin ATMs and host educational events for beginners and crypto enthusiasts.
The company has 3,500 bitcoin ATMs in 49 states; its 2021 revenue was nearly $100 million. It ranked No. 60 on the Inc. 5000.
“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 CoinFlip founder [Ben Weiss](tampabay/search/results?q=Ben Weiss) said in a statement. “Choosing Tampa was also methodical as it’s quickly becoming a crypto hub for the U.S., and we hope to emulate our tremendous success in Chicago. We’re thrilled to partner with Water Street Tampa and Sparkman Wharf, which is already a booming crossroads of commercial and residential real estate — it’s a perfect marriage.”
[Rory Herriman](tampabay/search/results?q=Rory Herriman) is a Tampa area resident and CoinFlip’s chief strategy and technology officer.
“The CoinFlip team did not take the decision lightly in choosing a location for the company’s first corporate expansion,” Herriman said in a statement. “After consulting with the team at the Tampa Bay Economic Development Council, the team is extremely excited by its decision to plant seeds in Tampa. The city’s potential as an emerging tech and crypto community is endless, and we’re driven to further this potential by bringing crypto innovation directly to Sparkman Wharf.”
CoinFlip is the latest crypto company to set up shop in the Tampa Bay region, and business and civic leaders are beginning to market the area as a fledgling crypto hub . The region has also seen a surge in tech companies moving and expanding here; most recently, cybersecurity firm Rapid7 announced an office lease in Sparkman Wharf.
“We’re honored CoinFlip chose Tampa for this project and its first-ever corporate expansion,” Tampa Mayor [Jane Castor](tampabay/search/results?q=Jane Castor) said in a statement. “Our reputation as a top tech city is growing, and I’m confident our strong talent pool will be a great resource for the company as it looks to expand in the area. Not only is Tampa an engineering hub, but we are also quickly becoming a center for all things crypto.”
Sparkman Wharf is an anchor of Water Street Tampa, the mixed-use district between the Channel and central business districts in downtown Tampa. Water Street’s first office tower, Thousand and One, landed cybersecurity firm ReliaQuest as an anchor tenant in 2021.
“As we continue to grow Tampa into a thriving technology hub, we look for partners who push the boundaries in their industries,” [Lee Schaffler](tampabay/search/results?q=Lee Schaffler) , chief portfolio officer for Strategic Property Partners, the developer of Water Street Tampa, said in a statement. “CoinFlip embraces our vision for innovation at Water Street Tampa, and we’re thrilled they chose Sparkman Wharf. We look forward to adding bitcoin ATMs and crypto education opportunities to the district.”
