Once again, the cryptocurrency exchange giant Coinbase makes headlines as they announced $300 million in new funding.
According to a blog post by Asiff Hirji, President and COO of Coinbase:
Today, we’re pleased to announce that Coinbase will add an additional $300 million of investment at a valuation of over $8 billion to accelerate the adoption of cryptocurrencies and digital assets.
This additional funding comes from a Series E equity round led by Tiger Global Management and included participation from Y Combinator Continuity, Wellington Management, Andreessen Horowitz, Polychain and others.
What Will the Funding Be Used For?
Coinbase has stated that they plan to use this financing to accelerate 4 key areas of business.
The first being “Global Expansion.” Coinbase plans on building infrastructure to onboard fiat currencies from around the world, and enable the exchange of said fiat to crypto in regulated markets.
Additionally, Coinbase made a bold claim of offering many…