A bitcoin and blockchain technology company is bolting New York City for Connecticut, Gov. Ned Lamont said.
Lamont issued a news release stating Digital Currency Group has informed his administration the company will create more than 300 jobs in the state over the next five years upon relocating its headquarters to Stamford.
“Attracting new investment and job creation opportunities to Connecticut is a top priority for our administration and today’s announcement is another indication that we are seeing results,” Lamont said in the release. “Digital Currency Group’s decision to relocate their headquarters here is the latest example of how Connecticut is the ideal location for leading-edge companies that are focused on business growth.”
According to the release, Digital Currency Group was founded by Barry Silbert, who serves as chief executive officer, in 2015, and is a global investment company that holds 200 blockchain companies while serving as the parent company of seven subsidiaries who have shot to the forefront of the digital currency market.
Grayscale Investments, who is the world’s largest digital currency manager with more than $50 billion in assets, is also relocating to Stamford, according to the release. TradeBlock, in addition to DCG Real Estate and HQ, the company’s new wealth management business, is also relocating to Stamford.
“It quickly became clear that Connecticut had everything we were looking for in a new headquarters,” Silbert said in the release. “Its proximity to major metropolitan areas combined with its infrastructure, talent, business-friendly environment, and world-class facilities to house our rapidly-growing organization made it an easy choice. We are committed to making our new home in Stamford a hub for the next generation of fintech and blockchain entrepreneurs.”
Shippen Landing is where the digital currency company will call home, having signed a lease at 290 Harbor Drive in Stamford. The company expects to finalize the relocation in late 2022 after renovations of the 90,000-square-feet of office space is complete.
According to the release, the company chose Stamford over sites in New Jersey and New York.
The state’s Department of Economic and Community Development, according to the release, has approved a taxpayer-funded grant to cover arrears up to $5,011,800 should the company create and retain more than 300 new full-time jobs.
CoinDesk, Genesis, Foundry, and Luno, businesses that are owned and operated by Digital Currency Group are also relocating to Connecticut, according to the release.
The company announced in November that investments that have pushed the company’s valuation beyond $10 billion.
This article was originally posted on Digital Currency Group relocating to Connecticut
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