As more and more people from around the world are turning to cryptocurrency trading, sending many blockchain tokens to all time highs, companies in the field are apparently trying to capitalize on the massive rally and draw new investments while the subject is dominating mainstream financial news.
San Francisco-headquartered Bitcoin wallet and exchange Coinbase is set for another funding round, this according to a report in the Wall Street Journal.
Coinbase is reportedly seeking to secure at least another $100 million for its global operations. The valuation by which the firm is offering the investment opportunity gives it the biggest ever price tag for any cryptocurrency firm – $1 billion. Coinbase has previously raised approximately $116.5 million from investors including Andreessen Horowitz, Union Square Venture and more, divided between several rounds.
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Back in March, New York’s financial regulator, the state Department of Financial Services (DFS), announced that Coinbase’s licensing application to offer Ethereum and Litecoin was approved. Coinbase thus joined four other rivals that previously gained ‘BitLicenses’ from the DFS to operate in New York.
The firm also recently announced that it is taking new steps in its transition to a truly global organisation with “big plans” for the year ahead.
The first step it revealed is the opening of a new office in London, which will serve as the hub for Coinbase’s European operations.
Additionally, it announced the addition of two new trading pairs at GDAX, its institutional digital asset exchange. Customers in Europe can now trade Ethereum and Litecoin on Coinbase’s ETH/EUR and LTC/EUR books.