Coinbase CEO Highlights $300 Million Funding in Q4 Update

Brian Armstrong also noted the firm's expansion into new territories and improved set of products.

2018 was a fun-lovin’ year full of surprises, ups, downs, bursts of exhilaration, low lows, high highs, and a Champions League Final ruined by Sergio Ramos. It was also the year that cryptocurrency reached dazzling heights before, at the end of the year, crashing back down to earth.

Unsurprisingly then, Coinbase has done quite a lot of stuff in the past twelve months. So many things in fact that the company’s Chief Executive Officer (CEO) Brian Armstrong published a post this Thursday highlighting all of the many wonderful things the cryptocurrency exchange operator did in just the final quarter of the year 2018.

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In said post, Armstrong, who co-founded Coinbase back in 2012, posted a number of ‘achievements’ that the cryptocurrency exchange attained in the fourth quarter of last year.

Exchange or Broker?

Most notably, the company added cryptocurrency trading pairs, lending further credence to the idea that Coinbase is more a broker than an exchange.

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On top of this, the company launched PayPal integration for its US customers, enhanced its cryptocurrency payments systems and added an educational tool, News on Consumer, for people trading on its platform.

Perhaps most significant was the addition of a stable coin – USDC. The cryptocurrency is equivalent to the US dollar and was launched in conjunction with Circle – a cryptocurrency payments firm backed by Goldman Sachs.

Coinbase Expansion

Along with expanding and beefing up its set of products and solutions, Coinbase also added a number of coins to its trading platform and entered five new markets. With regard to the former, the company added so many that it’s worth only listing the really notable ones. Those would probably be the aforementioned USDC, ZCash, and BAT.

The new jurisdictions were not; it must be said, earth-shattering. Iceland, Andorra, the Isle of Man, Gibraltar, Guernsey, and Lithuania aren’t going to be helping Coinbase immediately. In the long term, however, they could prove to be extremely useful. Gibraltar, in particular, is shaping up to be quite a hub for the cryptocurrency industry.

Finally, Armstrong noted that Q4 of 2018 saw Coinbase raising a total of $300 million in seed funding from investors. How will the company be blowing all of that cash? We’ll just have to wait until next year’s update to find out.

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