Coinbase Raises $100M to “Help Accelerate Digital Currency Adoption”

On August 10 the San Francisco-based company Coinbase announced it has raised US$100M in a Series D funding round. The company says the large capital injection will be used to help “create an open financial system for the world.”

Also read: Breadwallet’s Bitcoin Cash Tool Arrives Next Week — Full Client Coming Soon

This week the bitcoin exchange and brokerage service, Coinbase, announced a successful Series D funding round raising $100M. The firm says it has experienced “unprecedented growth” this year and has exchanged over “$25 billion USD worth of digital currency.” Coinbase explains that it will use the new capital to further scale the company’s resources and services. The company outlines its plans with the money stating;

We will Increase the size of our engineering and customer support teams to improve the customer experience. Open a GDAX office in New York City, further investing in our ability to serve institutions and professional traders. And invest in Toshi, to help accelerate digital currency’s shift from speculative investment to global payment network.

The Series D funding round was led by venture capital firms such as IVP, Spark Capital, Greylock Partners, Battery Ventures, Section 32 and Draper Associates. Coinbase says they are “fortunate” to be working with IVP who has invested in successful companies like Snap, Netflix, Twitter, Dropbox, and Slack. Toshi is a browser for the Ethereum network that aims to provide universal access to financial services. Coinbase says they are excited about the digital currency economy and the firm is entering into the next phase of their “secret master plan.”

Digital currencies are having their “Netscape” moment. The pace of innovation has been accelerating and we are now seeing exciting projects and companies being built on top of digital currencies.

Coinbase has done well since its inception in 2012 raising a total of $217M in funding rounds from over 29 investors. The company has also been very popular with over 30M wallets used by close to 10M customers in 2017. The San Francisco company is now the first ‘Unicorn’ cryptocurrency startup with a market valuation of $1.6B. 

Images via Shutterstock, and the Coinbase website. 

At there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more. 

  • Ralph Pohl

    Avoid Coinbase.

  • Did they get it from leveraging people’s Bitcoin Cash they still hold?

  • vegas

    “improve the customer experience” …yeah how about giving back to current customers who had to deal with your bs for years?

  • David L

    how can people take these companys seriously when they dont even have a telephone number u can call when u have a question or problem .

    • Millennials are afraid to talk on the phone.

      • Roger Ver

        I’m not a millenial, but I HATE talking on the phone.

        • Over the years, I’ve found the phone, when possible, to provide the highest level of support (which isn’t always saying much.) Cultural and spoken language barriers can still be an issue. I’m often surprised at how competent Latin American tech support is, and often disappointed with Central Asian support. This may have more to do with the organizations involved than the regions.

          Question for you since I may have your attention. Where can someone get Bitcoin-related technical, financial and legal advice that they can trust if they’re willing to pay for it?

          Obviously, people as well-known as you are too busy. I’m concerned about it being credible and trustworthy. I have wallet questions, tax questions, legal questions, and everything all over the map.

    • Felix DuBois

      Hey, hello!! Hope You are doing great buddy!!! And as serious as a hearth attact your opinion is! That is totall truth. Many time there are many companies that hide behind something that is either some chat with an imaginary system or computer that is going to anwer your questions or evern just that; the place where You can choose the anwer and the machine or system is going to give the most accomodated answer to what you are looking for. So there before you add some money or pay or add whatever is needed; that so called system should first ask you, that; are you sure that the payment you sending is totally on the thought you really think this money is going to be used for, or is really going to go to where and what you do intend that payment or investment to be used for. No way after that happens, that you sent the payment is somebody there to clarify your questions or help You with whatever one you might have then. If there is no way to communicate with someone out there to help You, then is no sense to start any invest or pay for something you have no idea where it went. Or are they really helping some of us to be more confused after is too late, once You have already sent them an invest?

      • Jetsz

        I had trouble reading through that.

  • why bother

    However, Shapeshift Prism is also going to be extended into other asset classes. The difference is Coinbase has KYC. Shapeshift does not,

  • David L

    i created an account and deposited some money. A couple days later i had some questions and decided to look for a number to contact then only to realise there was none . i mean are these people for real. A million dollar company? they need to do better if they want to be taken seriously by people who want to invest their hard earned money with them.

  • No wonder, the fees on Coinbase are so ridiculously high.