Coinbase Venture to invest in Early Stage Cryptocurrency Businesses – Cryptocurrency News

Coinbase Cryptocurrency Exchange has created an investment arm, Coinbase Venture to investing in promising cryptocurrency businesses. Through a seed stage investment venture, the company is hoping on becoming major early investors in businesses developing cryptocurrency products and services.

In a post by Emilie Choi Head of Corp & Business Development and Operations at Coinbase published a blogpost at the company’s website detailing its plans which is called a venture investment fund. The fund is meant to create an “open financial system for the world.” Emily said. She further expressed Coinbase’s commitment to unrestricted global financial systems based on cryptocurrency; creating cutting edge products and supporting key industry players both in and outside Coinbase.

Coinbase isn’t afraid to invest in businesses that may seem to compete with it as it will select its investments based on the overall long-term benefit of crypto ecosystem. The blog read:

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. We’re taking a long term view of the space, and we believe that multiple approaches are healthy and good.

It further explains that Coinbase Ventures is looking at supporting cryptocurrency startups and innovators to create meaningful user and customer value and not necessarily looking for new digital currencies. The digital industry if well supported can change the lives of billions of people in the near future, the company reasons.

Cryptocurrency businesses

Coinbase drew a line between investment in cryptocurrency businesses and purchase of Tokens. It said it would not invest in security tokens been given out in Initial Coin Offerings (ICOs). It would not give preferential treatment in selecting potential startups and businesses either. “In short, it’s in all of our interest to see this space evolve, expand and mature. We’ll learn a lot along the way, and we’re excited to get started.” Emily Choi affirmed.

Coinbase is one of the most popular exchanges that can be used to facilitate cryptocurrency trading. With an increasing interest in cryptocurrencies and blockchain technology. Coinbase itself became the highest funded startup for Bitcoin and the largest cryptocurrency platform in the world in 2013. Here’s a comprehensive guideline to help.

 

More Coinbase Related Article at Smartereum

 

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