Brian Armstrong Says, Coinbase is ‘Adding the Assets Our Customers Have Come to Demand’
So far at its best quarter, probably Coinbase stands. First, this is completely because, in the fourth quarter of the year 2018, it has launched several products. The Breakout Company of 2017, the company which Lightspeed Venture Partner Semil Shah has called, recently conducted its 12 days of Coinbase, where there are a lot of new features introduced such as instant transactions through PayPal, Coinbase Earn which is further modified version of Earn.com
E fundraise of 300 Million Dollar Series
The secure migration of 5 Billion dollars is the most notable undertaking, which is an improvised cold storage solution. Coinbase has raised an impressive 300 million dollars Series E at a valuation of 8 Billion dollars, apart from this, which makes it to be one of the most valued startups within the cryptocurrency ecosystem. Tiger Global Management has led this, with the participation from Andreessen Howoritz, Y combinator continuity, and a Polychain capital and among other notable persons.
Coinbase has invested in many more startups through its investment arm Coinbase Ventures. Crypto data API Nomics, Starkware, Securitize, Abacus Protocol are some of the interesting investments of the company. The previous investments have been got various compliments such as Reserve, which is a stablecoin project and access control protocol built on the Ethereum blockchain, which is called as Unlock Protocol, with along the other acquisitions such as Cipher Browser. Perhaps this is one of the most interesting developments at Coinbase has been the rollout of the collateralized stablecoin ‘USDC.’ This stablecoin USDC coin represents a US dollar, and this doesn’t move forward or gets lower, thereby providing a safe and easy way for traders and other investors during the volatility. Since launching the USDC besides the Circle, the stablecoin has already achieved a 250-million-dollar milestone, that has issued in just a few months span. In fact, this is a notable record in the cryptocurrency market. The stablecoin, now have the support from the leading names of exchange in cryptocurrency such as Binance, Bitfinex, Poloniex, Kucoin, Korbit and among other firms. Given the number of exchanges supporting USDC, it won’t be a surprise if USDC leads the pack amongst the other stablecoins, that have already been a hot topic throughout the year 2018. Some of the minor features introduced include a ‘watchlist’ feature, a partnership with WeGift that enables this Coinbase customer across the United States of America to redeem their cryptocurrencies for gift cards at top retailers. This Coinbase has also introduced various new cryptocurrency assets within the Coinbase product offerings such as BAT, CVC, DAI, DNT, GNT, LOOM, MANA, MKR, ZIL, ZRX.
With its mission in the line of creating a globally open financial system, the Coinbase has also rolled out support across the six other European countries such as Andorra, Gibraltar, Guernsey, Iceland, Isle of Man, and Lithuania. Even though Coinbase Pro and Prime are not yet available to users from these European countries, still they can buy and sell cryptocurrency from the website coinbase.com, by browsing through the iOS and Android applications. This significant progress represents that the given Coinbase is now already active and supports in 33 countries, globally.
Coinbase, now also has procured a genuine license under the New York State Banking Law, which allows Coinbase to operate as a qualified custodian to its users. This paves the way for Coinbase to allow for complex cryptocurrency centric services to be laid out in the near future, such as a trusted staking solution for hedge funds which hold a significant amount of Ethereum. Moreover, the Coinbase has experienced a significant amount of growth over the year 2018, with some impressive rollouts over the last four months of the year. Recent fundraiser along with increased headcount provides necessary human and financial capital to move forward.
Honorable Chief executive Officer of Coinbase, Brian Armstrong has sent an official letter to its active Coinbase employees stating that “Coinbase goal is to maintain the trusted experience our customers have come to expect while adding the assets our customers have come to demand. This quarter, we added more assets than in our entire prior history as a company and expanded our services to more people in different countries.” The letter further continues as, “I continue to be so impressed by the ability of this team to execute on aggressive timelines, all while solving problems that have never been solved before. This was a year of scaling Coinbase up to meet the demand of the market and efficiently executing to serve our customers.”