Crypto exchange Coinbase’s venture arm invested in over a dozen companies in Q4 2018
Mon, 07 Jan 2019, 07:24 am UTC
Coinbase Ventures, the investment arm of cryptocurrency exchange Coinbase, has made investments in 13 companies in the final quarter of 2018.
Coinbase co-founder and CEO Brian Armstrong revealed the details while announcing the company’s achievements in Q4 2018.
Armstrong said that in the last quarter, Coinbase Ventures extended its support to Spacemesh, Abacus, Nomics, Risk Labs (UMA), Starkware, Realtybits, Alchemy, Terminal, Flipside Crypto, Relevant, Securitize, Staked.us, and Gauntlet. With this, Coinbase Ventures’ total number of portfolio companies has grown to 26.
Coinbase formed Coinbase Ventures in April 2018 with the objective of providing financing to “promising early stage companies.”
In October, the company announced that it raised $300 million in a Series E funding round led by Tiger Global Management,
“This Series E round is a testament to the work you have been doing over the last year (and longer) to establish Coinbase as a company with great potential to create an open financial system,” Armstrong said.
In the last quarter, Coinbase also launched a number of new services and initiatives including consumer crypto-to-crypto trading, Watchlist, PayPal integration, USDC stablecoin, and Coinbase Earn, among others.
Furthermore, Armstrong said that the company added “more assets than in our entire prior history as a company, and expanded our services to more people in different countries.” Coinbase has added support for USDC, ZCash, and a number of Ethereum Tokens including BAT, CVC, DAI, DNT, GNT, LOOM, MANA, MKR, ZIL, and ZRX.
He said that Coinbase Custody now supports approximately 79 percent of crypto assets by market capitalization.
In addition, Coinbase launched its services in six additional European markets including Andorra, Gibraltar, Guernsey, Iceland, Isle of Man, and Lithuania.
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