Coinbase, the United States headquartered bitcoin and blockchain asset exchange company today announced that they will add an additional $300 million of investment at a post-money valuation of over $8 billion to further accelerate and develop their ecosystem.
The Series E equity round is led by Tiger Global Management, with participation from Y Combinator Continuity, Wellington Management, Andreessen Horowitz, Polychain and others.
Coinbase will use this financing to accelerate:
- Global expansion — building the infrastructure between fiat and crypto in regulated markets around the world;
- Offering more crypto assets, quickly — Coinbase says it sees hundreds of cryptocurrencies that could be added to their platform today and they will lay the groundwork to support thousands in the future;
- Utility applications for crypto — like the recently announced support for a stablecoin (USDC) and continued development of Coinbase Wallet; and
- Bringing institutions into crypto — adding features and crypto assets to their Custody offering to bring aboard more institutional funds.
“Coinbase is, and will remain, a crypto-first company. More than anything, we’re proud of the millions of people that have turned to Coinbase as their entry-point into crypto. We take that responsibility very seriously. We strive to be an easy, trusted way for anyone to get started with cryptocurrencies. We see Coinbase’s growth as validation that the ecosystem will only continue to grow in size, influence, and impact — ultimately ushering in a more open financial system for the world.”