Coinbase Launches Venture Branch for Startup Investment
April 7, 2018
The US’s largest cryptocurrency exchange Coinbase will start investing soon to startups engaged into digital currency product development and service provision.
On Thursday the company announced launching Coinbase Ventures, the subdivision to invest into startups at the early stage which may cause a positive effect onto crypto industry.
“At least in the beginning, our goal is simply to help the most compelling companies in the space to flourish. This means that we don’t have the strategic requirement of formalizing partner relationships with such companies, as some corporate venture programs do. Our focus is on building strong relationships and helping to spur on the development of the ecosystem”, said Emilie Choi, Coinbase’s business development director.
She noted that the company does not rule out investing into the would-be competitors to Coinbase.
“There might be nuance to the way these startups are building out its products… we may be comfortable investing in companies that are potentially competitive, because it’s in everyone’s interest to see the ecosystem innovate”, she added.
As Business Insider reports, at first Coinbase Ventures will not put up funds into tokens functioning as securities issued during ICO.
Note that the American exchange is undergoing intensive development at ever-expanding scale. At the beginning of last month Coinbase claimed launching Coinbase Index Fund (CBI) while announced adding ERC20 token support last week.