One of the most popular crypto exchanges in the world, is expanding its business field by setting up a Fund to specifically support start – UPS in the crypto currency and block chain. Coinbase Ventures, thus expanding the service range of the company and will serve the further development of the crypto market.
How Coinbase has announced yesterday, will call the company Coinbase Ventures to support Startups in the crypto and block chain scene in the early stage of financing. Coinbase Ventures is a Fund to promote especially young ideas, where there is a lack in the development of financial resources.
Through this help Coinbase wants to ensure that innovation in the digital economy will not be stopped for lack of funds. Emilie Choi, head of business development, in a blog post that it will develop primarily on the long-term, sustainable partnerships is an important program.
Furthermore, it agrees with the founder of Ethereum, that we are so far still at the beginning of the development of the Blockchain (’scratched the surface‘).
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 search companies, as some corporate venture programs do. Our focus is on building strong relationships and helping to spur on the development of the ecosystem.
Coinbase expands thus effectively the scope of its business to the financing of Startups. The company also aims to promote in the own network of Alumni (former employees and partners of the company) invest to amplified creative ideas for the future.
In an Interview yesterday on CNBC Asiff Hirji (COO at Coinbase) commented on the strong volatility that followed the markets currently. In his opinion, will stabilize the market as soon new, long-term investors to enter the crypto market.
Coinbase announced in another Post that it will support future Bitcoin Forks, and it is also possible to deduct the corresponding amounts from the platform. However, each Fork is considered in Detail, and then decided whether this is supported or not. A time horizon, the company decided not to at the present time.
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