The bitcoin exchange Coinbase wants to grow further. With an additional financial injection of 300 million US dollars, the San Francisco-based company has set ambitious new plans. The current efforts are primarily intended to attract institutional investors.
Coinbase wants to grow. In a blog post, the bitcoin exchange has announced that it has completed a new round of financing. According to its own information, it has added another 300 million US dollars to the existing pool of funds. Now the bitcoin start-up from San Francisco has a post-money valuation of eight billion US dollars.
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According to their own information they want to help both crypto currencies and the blockchain industry to continue to grow and be adopted with the current financing. Specifically, Coinbase wants to expand globally and provide the infrastructure between fiat and crypto currencies in regulated markets worldwide; offer more and faster crypto currencies: The company wants to add more crypto currencies to its current portfolios and increase liquidity; offer more applications for crypto currencies, for example by offering the stable coin USDC and further developing the coinbase wallet; drive adoption or investment by institutional investors.
The post-money valuation of eight billion US dollars includes previous investments by investors. These include Tiger Global Management, Wellington Management, Andreessen Horowitz and Polychain.
Coinbase currently offers the crypto currencies Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Zerox, USDC and Ethereum Classic. Most recently, the company listed Circle’s USD coin as the first stable coin.
ZRX listing controversies
In the shadow of the exchange there was also a controversy about the listing of the ZRX token. This revealed an entanglement between the Coinbase teams, the investment firm Scalar Capital and the 0x platform. Therefore, there was considerable doubt about the integrity of the staff – it was suspected that the involvement of the staff ultimately served to enrich the exchange.
Nevertheless, communities of XRP, XLM, BAT and ZEC tokens are hopeful their project will be the next listed on the world’s leading exchange as the price bump after such events is noticeable.