Knowing a little more about Coinbase
Coinbase has come a long way since its launch in 2012 by co-founder and CEO of Coinbase, Brian Armstrong. The company has raised more than US $ 225 million and paved the way for cryptocurrencies to enter the mainstream by providing a digital currency exchange.
Armstrong worked as a developer for IBM and a consultant at Deloitte before joining Airbnb as a software engineer in 2011. At Airbnb, Armstrong focused on fraud prevention, giving him the opportunity to learn about payment systems in the 190 countries to which Airbnb provides services.
In 2012, Armstrong co-founded Coinbase and provided a budding demographic of cryptocurrency enthusiasts with the opportunity to trade in US dollars for bitcoins and, later, the digital currency of their choice. Currently, Coinbase provides services to more than 10 million customers in 32 countries, providing custody for more than US $ 10 billion in digital assets.
In fact, Coinbase was valued at US $ 1.6 billion after a round of financing of US $ 100 million in August 2017.
In April, the company unveiled an initial fund for cryptocurrency startups, and acquired Earn.com for US $ 100 million. As part of the acquisition, the company brought Balaji Srinivasan as its first CTO.
There were also reports that Coinbase approached the SEC to become a licensed brokerage firm and electronic trading venue, which would allow it to expand beyond the four currencies (Bitcoin, Bitcoin Cash, Ethereum, Litecoin) listed on the platform now.
Yesterday, Coinbase announced that it would offer a new set of services aimed at institutional investors, which are beginning to warm up to cryptocurrencies.
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