Coinbase raises Series E round of financing to accelerate the adoption of cryptocurrencies
Coinbase raised another round of financing. Source: shutterstock.com
Coinbase announced that it will add an additional $300 million of investment at a valuation of over $8 billion to accelerate the adoption of cryptocurrencies and digital assets.
The Series E equity round is led by Tiger Global Management, with participation from Y Combinator Continuity, Wellington Management, Andreessen Horowitz, Polychain and others.
According to its blog post, Coinbase will use this financing to accelerate:
- Global expansion;
- Offering more crypto assets;
- Utility applications for crypto — like the recently announced support for a stablecoin (USDC) on Coinbase and continued development of Coinbase Wallet;
- Bringing institutional funds into crypto.
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