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Breaking News / Cryptocoins / Exchanges

Coinbase To Launch Incentive Fund For Crypto Start-ups

In a bid to help early stage blockchain developments flourish, Coinbase is launching a new venture. The company’s CEO, Asiff Hirji said;

“We’re going to invest off our balance sheet into crypto companies…We will invest in companies that are in the space and are aligned with our values.”

Despite these profits being small, when you look at the entire company, the fund is already off to a $15 million start, and is only set to get bigger. Hirjo was quick to point out that these investments will not have any bearing on the listing of coins on the exchange, saying;

“We are not investing in currencies because we do not want even the appearance of a conflict of interest.”

They are looking for founders, as opposed to the next money-making cryptocurrency. They gave more detail in the investment options on their official blog. They wrote;

“You may also see us invest in companies that ostensibly look competitive with Coinbase. There may be a nuance to the way these startups are building out their products. Or, in some cases, we may be comfortable investing in companies that are potentially competitive, because it’s in everyone’s interest to see the ecosystem innovate. We’re taking a long term view of the space, and we believe that multiple approaches are healthy and good.”

They are placing most of their focus on actually helping startups flourish and take off, rather than setting out very formal requirements that must be followed. This means that they will stress on formalising relationships like Venture Funds. They are unlikely to ask for a large piece of equity, or tokens from the company, before they actually offer any kind of support to them.

Finally, they have also said that they will favour alumni, saying;

“People who have worked at Coinbase are encouraged to think entrepreneurially, and you can expect that we’ll enthusiastically invest in ideas from our own alumni network.”

Featured Image Source: Flickr – Great Photo By Jon Russell


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Frances is a writer for Crypto Daily, and she is responsible for bringing you the latest news on everything that is related to the Crypto world. She has a keen interest in Cryptocurrencies, and has many years of experience writing in all different roles. She is incredibly passionate about writing, and this combined with her interest into the finance, and virtual currency sector means that you are kept up to date with all of the latest news and information regarding all cryptocurrencies.