Cryptocurrency Exchange Coinbase to Acquire Agara

On Tuesday, Coinbase, one of the world’s most popular cryptocurrency trading platforms, announced that the company is planning to acquire Agara, a prominent support platform powered by Artificial Intelligence (AI), to deliver world-class customer support.

Agara has operations in the US and India. Coinbase also highlighted its commitment to build a tech hub in India. In the last few months, Coinbase has increased its customer support staff significantly. Through Agara’s acquisition, the cryptocurrency platform aims to deliver personalized support.

The use of innovative technology like Machine Learning and Artificial Intelligence in client support has jumped substantially in the last few years. According to Coinbase, Agara’s extensive expertise in ML and AI will support the engineering team of Coinbase.

“We plan to leverage Agara’s powerful Deep Learning and Conversational AI technology to automate and enhance our customer experience (CX) tools. Improving our CX remains a top priority for Coinbase — in the past few months we have increased our support staff headcount by 5x and announced that we’ll deliver 24/7 phone support and a live messaging service by end of the year,” Coinbase mentioned.

“Through this acquisition, we’ll be able to provide our customers with new personalized, intelligent and real-time support options. In addition to Agara’s technology, the Agara team brings deep expertise in ML and NLP to Coinbase and will augment our existing product, engineering and data teams,” the company added.

Coinbase’s Tech Hub in India

In July 2021, Pankaj Gupta, VP Engineering and Site Lead for India at Coinbase, wrote a blog and highlighted that the cryptocurrency exchange is building a high-quality tech hub in India. Being one of the fastest-growing crypto regions in the world, India offers various attractive opportunities. In the latest announcement, Coinbase outlined its rapid growth in the region. Furthermore, Coinbase is actively hiring in India.

In October 2021, Coinbase announced that the company is planning to launch its own non-fungible token (NFT) marketplace.

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