Coinbase aiming to launch hundreds of tokens after new series funding is over
Recent announcement was made in a Medium post and goes into detail about their plans regarding the investment. They made it clear that they were not in need of another series of investment as the company has seen high profits this year even in a bear market. The investment will be used to further adoption of digital assets and the company is now officially valued at $8 billion.
The round of investment was backed by Tiger Global Management with participation from firms such as Y Combinator Continuity, Wellington Management, Andreessen Horowitz and Polychain. Plans of what to do with the latest investment is to expand globally and enable fiat to crypt exchanges for everyone. The funding will also help put necessary infrastructure in place to offer a lot more currencies for their customers. This is great news for Steemians. In a recent article Coinbase published they discuss a new solution to listing assets faster than before, they want to list assets complaint with local law in a "jurisdiction-by-jurisdiction manner" which means that depending on the Coinbase customer and their location they will have access to some assets while not to others.
Coinbase has been spearheading innovation and adoption while at the same time expanding like no other company has. In August 2017 it was valued at $1.6 billion, now at $8 billion even after the almost year-long bear market. Them focusing on listing alternative currencies even harder is a good sign for the market and the adoption of blockchain tech. If you've been planning on starting something of your own that uses blockchain, this might be the best time for it.
You know Acid, this does make me sound like a cheerleader but at this point... I'm not fooling anyone, I totally am.
As much as it's been hard for plenty of people, including me of course, to deal with this bear market for almost a whole year now, I'm grateful it's given me the opportunity to sharpen my mind and collect these many tokens.
This announcement from Coinbase in my view was somewhat inevitable, its the natural progression that eventually had to happen. And, I'm willing to bet STEEM will be part of this. Why? Because negative bias aside (i know some people hate coinbase), they've proven time and time again that they know how to make money, and they would not be stupid to ignore their biggest pool of potential clients.
So this is not financial advice, of course... but freaking HODL people, tighten up that belt, the ship is about to turn.
wow this is actually really incredible. that they've grown in such a bear market and will be opening up for more cryptos with the hope to "enable fiat to crypto exchanges for everyone" is really exciting for all of us! this can help steem mainstream! .... we need these pathways to ensure adoption for all the people who aren't comfortable with the crypto-sphere (basically everyone) ... thanks for sharing!
Hopefully this will spur a bull market in cryptos :)
You got a 4.25% upvote from @minnowvotes courtesy of @jennet6688!
It would be hugely compelling to have a more direct funding / withdrawing route -- I've thought for a long time that it's a HUGE pain in the ass to have to exchange for BTC/BTG/ETH/LTC, and THEN to your native fiat currency (or the other way around, depending on what you're doing).
It could get a lot of people excited to earn some steem because it's easy to withdraw, but it could also make it easier for curators / long-termers to fund their accounts.
It would certainly make it viable for way more business cases as well.
As long as they have Steem on their list, they will have done good.
agreed, mr. wombat!
Wow that's a pretty high amount of money and considering that in a year they managed to multiply that value 4 times more it shows that they achieve their goals to gain more than any other
The listing will no doubt include STEEM, but if it's in a set of a hundred other coins, one has to wonder if the market value of such a listing diminishes significantly. At that point Coinbase is no longer as tightly curated and its picks treated with the a diminished level of attention...
Well, hopefully I'm wrong.
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hundreds ? Thats awesome!! Hell.... i'd be happy if you didn't have to check the status of paypal being an option...
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I can see Steem listed on there for sure. Perhaps we should start an initiative in the community where everyone writes a letter and mails it to Coinbase headquarters. I think they’d be impressed and be more inclined to list it sooner rather than later.
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Brilliant suggestion