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- Digital currency exchange Coinbase is to release another player to serve its markets in Europe.
- Coinbase was able to create a market value of 8 billion dollars which may account for the 300 million dollar series E round occurring in October 2018.
Digital currency exchange Coinbase is to release another player to serve its markets in Europe. This would be following its first entrant Coinbase Custody International which was able to grow in value to 7 billion dollars worth in assets and spreading over 120 clients in 14 countries yet.
Launched back in 2017, it too targets institutional buyers with criteria of a minimum of 10 million dollars in a deposit. It has built a good customer base in Europe which also happens to be one of its fastest-growing geographic segments and hence hosting the launch for its second significant entity.
Being one of the giants in the cryptocurrency industry, Coinbase was able to create a market value of 8 billion dollars which may account for the 300 million dollar series E round occurring in October 2018.
It also has robust financial support from the likes of established capital firms such as Greylock Partners, Battery Ventures, Andreessen Horowitz, Ribbit Capital and also including investors such as Former Citigroup boss Vikram Pandit and former Thomson Reuters chief executive Tom Glocer.
These all together do increase Coinbase’s equity and reputation among high-end buyers and investors as a trustworthy option. Dating back to almost a decade from it was the establishment in 2012, Coinbase surely can create a mark in the cryptocurrency industry.
This may be solely due to its reliability and services to its target base of customers. It is currently standing at more than 30 million user base and overall transaction value of over 150 billion dollars.
With its headquarters established in London and creating another operation base in Dublin, Coinbase surely looks up to maintain it’s the image as one of the most popular global cryptocurrency.
It’s first entry Coinbase Custody is currently active through European countries like UK, Switzerland, Germany, Finland, the Netherlands and aims to provide a localized service level agreement with compliance to all the local laws.
This would further help their penetration in European markets which have already become a competitive field for cryptocurrency players. Having a more premium target base in the form of institutional buyers does help it to segment and service its focus on a better level.
And now having acquired an e-money license from the Central Bank, Coinbase surely aims at expanding it’s market and operations among high-end buyers as stated in the report published by The Irish Times today.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
