In today's announcement, Coinbase's president and COO, Asiff Hirji, informed investors and enthusiasts of the encryption that the company added an additional $ 300 million in investments to a post-money valuation of over $ 8 billion . The funds will be used to accelerate the adoption of cryptocurrencies and digital resources to build the next phase of the Internet that is often referred to as Web 3.0.
The $ 300 million was part of an E-Series share round hosted by Tiger Global Management with the participation of Y Combinator Continuity, Wellington Management, Andreessen Horowitz, Polychain and others.
According to Hirji, the funds will be used to accelerate the following activities on the stock exchange:
- Global expansion: build the infrastructure between fiat and crypto on regulated markets around the world
- List of multiple cryptographic resources, quickly: The company has its eyes on hundreds of cryptocurrencies that could be added to the platform, as well as thousands in the future
- Utility applications for crypts: for example. the recently announced support for Circle & # 39; s USDC and the continued development of Coinbase Wallet
- Bring institutions into crypts: addition of cryptographic features and resources to Custody services to bring more institutional funds into space
Hope for XRP and TRX
With a majority of HODLer of XRP and Tron (TRX) confident of a list of Coinbase, news of the exchange announcing plans to list hundreds of cryptocurrencies is an indicator that the two digital resources could soon be available on the stock exchange. Looking at the rankings of XRP and TRX, digital resources are ranked respectively in the third and eleventh place according to market capitalization.
Therefore, it is safe to conclude that the Coinbase team probably has the two assets on their radar for listing given their importance in the crypto markets. The two coins are popular among traders and both have the support of a large crypto community from every corner of the globe.
What are your thoughts on Coinbase promising to list hundreds and perhaps thousands of digital resources? Let us know in the comments section below.
Disclaimer: This article is not intended to give financial advice. Any opinion here is purely that of the author and does not represent the opinion of Ethereum World News or its other writers. Perform your research before investing in one of the many cryptocurrencies available. Thank you.