Categories: CryptocurrencyFinance

Coinbase venture capital to fund big ideas

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Cryptocurrency Exchange, Coinbase, has today announced the formation of a venture capital operation to be known as ‘Coinbase Ventures’.

Coinbase venture capital will provide financing to selected early stage companies within the digital currency ecosystem.

Head of Corporate & Business Development and Business Operation at Coinbase, Emilie Choi, made the announcement in a blog post this morning,

“At least in the beginning, our goal is simply to help the most compelling companies in the space to flourish”, wrote Ms Choi.

“This means that we don’t have the strategic requirement of formalizing partner relationships with such companies, as some corporate venture programs do.

“You may also see us invest in companies that ostensibly look competitive with Coinbase. There may be nuance to the way these startups are building out their products. Or, in some cases, we may be comfortable investing in companies that are potentially competitive, because it’s in everyone’s interest to see the ecosystem innovate.”

Industry experts have suggested global exchanges operated by Coinbase generated total revenue of around US$1 billion in 2017.

Read the full Coinbase venture capital announcement here: https://blog.coinbase.com/introducing-coinbase-ventures-c67865a1d2fe

Micky News

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Tags: Coinbase

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