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A digital currency investment firm will relocate from NYC to Stamford

Simple FX

A major investor in digital currencies plans to relocate its headquarters from New York City to Stamford. It follows several companies that have already moved from New York to less dense towns and cities in Connecticut during the pandemic.

The Digital Currency Group invests in Bitcoin and blockchain technology companies. It’s the parent company of a global asset manager, Grayscale Investments, which will also relocate to Connecticut. Grayscale has more than $50 billion in assets under management.

“This is the latest example of how Connecticut is the ideal location for cutting-edge companies that are focused on business growth,” Governor Ned Lamont said.

Earlier this year, the world’s largest tobacco company, Philip Morris International, announced they would relocate from New York City to Fairfield County next summer. The parent companies of Webster Bank and Sterling National Bank also announced the creation of a new headquarters in Stamford.

“It quickly became clear that Connecticut had everything we were looking for in a new headquarters,” said Barry Silbert, the digital currency group’s founder. “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.”

The move is anticipated to bring 300 full time jobs to the state. Construction and renovations of the 90,000-square-foot office will be done in late 2022.

Natalie is a former news fellow with WSHU Public Radio.