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Crypto company CoinFlip expanding to Tampa this summer

Aside from a new office, the expansion will include an interactive experience center at Sparkman Wharf for people to learn about cryptocurrency.

TAMPA, Fla. — CoinFlip, a crypto company based in Chicago, is making its first corporate expansion into Tampa this summer.

On top of a second office location, a "Crypto Experience Center" will open. It's aimed to help educate people on how the digital form of currencies works.

"Our hope is to demystify cryptocurrency for the average person and make it tangible and physical," CEO and founder Ben Weiss said.

The company said it expects to see a nearly 8,000-square foot space as part of Sparkman Wharf this summer. It is hoping to create at least 40 jobs in its first year.

"This experience center will be a first of its kind destination in the United States that will aid in community education about cryptocurrency and provide guidance around purchasing digital currencies via the company’s on-site Bitcoin ATMs, a cornerstone of CoinFlip’s business," the release said. 

Weiss said the number of companies and talent moving into the area lured him in. Not to mention, the number of engineering jobs locally. He also cited Water Street Tampa's entrepreneurial spirit as a prime location to expand the company office here. 

The decision to expand here didn't come as a surprise to the Tampa Bay Economic Development Council. 

President and CEO Craig Richard said the Tampa Bay area is an emerging tech hub. CoinFlip's decision only confirms the growth the region continues to see, he said. 

"We are a city in a region that is ready for this type of economic development," Richard said. "Getting recognition and credibility from companies like coin flip shows that we are truly an emerging tech center."

Already, Forbes named Tampa the top emerging tech city in the country last year. 

Reports show cryptocurrency is experiencing a crash with plummeting prices. However, Weiss said there is still a lot to look forward to. 

"The strong companies with good fundamentals and the strong coins with good fundamentals continue to succeed," Weiss said.

The release also included a statement from Tampa Mayor Jane Castor. The mayor said she's honored that CoinFlip chose to bring its business to Tampa.

"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,” Castor said. “Not only is Tampa an engineering hub, but we are also quickly becoming a center for all things crypto. We're excited to continue to build our presence in the crypto space with the addition of CoinFlip – a true win for the city!"

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