Coinbase's Investment Arm Finances Six Onchain Projects, Promotes Innovation
Portfolio Pulse from Khyathi Dalal
Coinbase Ventures, the investment arm of Coinbase (NASDAQ:COIN), has announced an initial round of investments into six projects from the Base Ecosystem Fund. The projects include Avantis, BSX, Onboard, OpenCover, Paragraph, and Truflation. The investment amounts remain undisclosed. This move marks Coinbase Ventures' interest in promoting economic freedom and innovation, and expanding the reach of decentralized technologies. Additionally, Coinbase launched a new cryptocurrency lending service for U.S. institutional investors, which received a significant $57 million investment from institutions.
September 08, 2023 | 1:48 pm
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Coinbase Ventures' investments into six projects and the launch of a new lending service for U.S. institutional investors could potentially boost Coinbase's market position and revenue streams.
Coinbase Ventures' investments into six projects from the Base Ecosystem Fund indicate the company's strategic move to promote economic freedom and innovation, and expand the reach of decentralized technologies. This could potentially attract more users to Coinbase's platform, thereby increasing its revenue. Additionally, the launch of a new lending service for U.S. institutional investors, which has already received a significant investment, could further boost Coinbase's revenue streams and market position.
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