Coinbase is the largest cryptocurrency exchange in the United States. The exchange has great faith in the cryptocurrency. This is why it has decided to turn into an investor for the cryptocurrency startups.
Coinbase will be investing money in other companies that are looking to develop products and services for the cryptocurrency industry. The company has announced the starting of Coinbase Ventures. This new firm will be financing the startup companies that come out with great teams and ideas to improve the cryptocurrency sector.
Emilie Choi, the Business Development Chief of Coinbase, says that the company wants to help the most promising startups to mushroom in the cryptocurrency space. They are looking at building a very good rapport and to help the cryptocurrency startups to survive in the sector.
Choi said that Coinbase Ventures will be looking to invest money in companies that offer a stiff competition. It is important to see the cryptocurrency ecosystem to evolve and innovate. This is why Coinbase has decided to finance the startups that have a competitive potential.
Coinbase Ventures will not be putting money in the security tokens. Coinbase is now turning out to be a big force in the cryptocurrency market. They introduced cryptocurrency index fund last month that allows people to invest in cryptocurrencies through funds.