Coinbase’s new Venture Funds will help fund financially young companies that have good ideas to help the cryptocurrency space move forward, according to Coinbase’s post on April 5.
Coinbase wants to support new companies “to develop products and services that create meaningful user and customer value.”
The cryptocurrency exchange is constantly working on making cryptocurrency massively adopted, as it has recently added many new expericenced Wall Street members to its team.
“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 said.
Coinbase wants to build strong professional relationships with companies who aim to help the ecosystem evolve.
Either if it is a company that brings competition or not, the company expressed that it can support them since it will help the space to flourish.
“We may be comfortable investing in companies that are potentially competitive, because it’s in everyone’s interest to see the ecosystem innovate,” Coinbase mentioned. “We’re taking a long term view of the space, and we believe that multiple approaches are healthy and good.”