The U.S based crypto giant Coinbase has raised series E round of funding according to a blog posted by the President and COO of Coinbase, Asiff Hirji. The $300 million of investment at a valuation of over $8 billion aims to accelerate the adoption of cryptocurrencies and digital assets.
The Series E equity round is reportedly led by Tiger Global Management, with participation from Y Combinator Continuity, Wellington Management, Andreessen Horowitz, Polychain and others.
According to Asiff Hirji, the funds will be used to accelerate:
- Global Expansion – building the infrastructure between fiat and crypto in regulated markets around the world
- Offering more crypto assets, quickly — we see hundreds of cryptocurrencies that could be added to our platform today and we will lay the groundwork to support thousands in the future
- Utility applications for crypto — like the recently announced support for a stable coin (USDC) on Coinbase and our continued development of Coinbase Wallet
- Bringing institutions into crypto — adding features and crypto assets to our Custody offering to bring more institutional funds into the space