Coinbase backing crypto start-ups with ‘Venture’ branch

Coinbase is launching a new programme, dubbed Coinbase Venture, that will fund interesting start-ups in the crypto space.

“Here at Coinbase, we’re committed to creating an open financial system for the world,” said Emilie Choi, head of corporation and business development and business ops at Coinbase, said in a blog post. “We’re hard at work building our own set of products.

“And we’re also eagerly rooting for the best and brightest minds in the crypto space, both in and outside of Coinbase, to develop products and services that create meaningful user and customer value… We’ll be providing financing to promising early stage companies that have the teams and ideas that can move the space forward in a positive, meaningful way.”

Coinbase Venture is looking for “compelling” companies to back, and will invest in those companies that may become competitors to Coinbase.

“It’s in everyone’s interest to see the ecosystem innovate,” Choi continued. “We’re taking a long term view of the space, and we believe that multiple approaches are healthy and good. In short, it’s in all of our interest to see this space evolve, expand and mature. We’ll learn a lot along the way, and we’re excited to get started.”