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Coinbase is working hard on a worldwide expansion. The crypto exchange has now raised 300 million dollars in an investment round to make this possible. The company is now estimated to be worth eight billion dollars.

The investment round was led by Tiger Global Management and included investments from Y Combinator Continuity, Wellington Management, Andreessen Horowitz, Polychain and others. The money will not only be invested in the accelerated global expansion of Coinbase, but also in adding support for new crypto currencies.

Great potential

Founded in 2012, Coinbase enables traders, consumers and buyers to trade in cryptic currency. This can be done through a range of different services, including cryptographic currency wallets. Among other things, it is possible to buy and sell cryptic currency via the platform. Coinbase distinguishes itself from the rest by making it possible for other websites and platforms to use cryptographic currency as a payment method for goods and services.

CEO Asiff Hirji states in a statement on Medium that his company believes that cryptic currency and the technology it enables represent a breakthrough in computer science that will change both the Internet and the global financial system for the better, and that crypto’s promise is great, according to Hirji, because he believes it has the power to empower consumers to regain control, enable a new era of innovation and provide better access to economic opportunities for people around the world.

With this investment round, Coinbase raised much more money than with previous rounds. The first one took place in July 2016, when 10.5 million dollars were raised in the sun. A new round followed in August 2017, which turned out to be worth 100 million dollars. In total, more than thirty companies have invested in Coinbase.

This news article was automatically translated from Dutch to give Techzine.eu a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.