Cryptocurrency Exchange

Introduction of Various Products by Coinbase

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Coinbase has introduced various products during the end of the fourth quarter of 2018, and hence it sounds the most fruitful quarter till now for Coinbase.

It added several new features one such being instant PayPal withdrawals. Some minor features launched include a ‘watchlist’ feature in coordination with WeGift which enables the customers across the United States to exchange their cryptocurrencies for gift cards at the top retailers.

Recently, Coinbase had raised a whopping $300 million in the round E funding series during which the company was valued at approximately $8 billion which is quite impressive and also makes it one of the top valued start-up within the crypto community. The major funding in the E series funding was made by Tiger Global Management, along with a contribution from Andreessen Horowitz, Y Combinator Continuity, and Polychain Capital among others.

Coinbase has been quite aggressive off-late in its expansion plans. It had acquired Earn.com in April 2018 for $120 million and have now launched an upgraded version of it as ‘Coinbase Earn. It had also acquired the Cipher Browser recently. The company has also been investing their investment in various start-ups projects through Coinbase Ventures, which is its Investment Arm. It has made investments in crypto data API Nomics, Starkware, Abacus Protocol, Securitize to name a few. These investments are in line with its earlier investment in ‘Reserve’ which was a stablecoin project with an access control protocol created on the Ethereum blockchain, which also includes the acquisitions such as Cipher Browser.

One of the most popular launches by Coinbase was the collateralized stablecoin ‘USDC’ which till date has been considered one of the most attractive developments at Coinbase where every USDC signifies a US dollar whose value remains constant which ultimately enhances the feeling of security in the minds of ultimate investors during the times of volatility. Also with the introduction of Circle, the stablecoin has just got a rocking kick start and has attained a value of $250 million in just a few months.

Further, this stablecoin is now supported by various major crypto exchanges such as Bitfinex, KuCoin, Binance, Poloniex, Korbit amid others. Also, it won’t be a shocking surprise to see USDC becoming the leading exchange in the near future due to the increasing support from the exchanges.

Further, Coinbase also launched various new crypto assets within the Coinbase product such as BAT, CVC, DAI, DNT, GNT, LOOM, MANA, MKR, ZIL, ZRX.

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