Coinbase raises Series E round of financing to accelerate the adoption of cryptocurrencies

Coinbase raised another round of financing. Source: shutterstock.com

Coinbase announced that it will add an additional $300 million of investment at a valuation of over $8 billion to accelerate the adoption of cryptocurrencies and digital assets.

The Series E equity round is led by Tiger Global Management, with participation from Y Combinator Continuity, Wellington Management, Andreessen Horowitz, Polychain and others.

According to its blog post, Coinbase will use this financing to accelerate:

• Global expansion;
• Offering more crypto assets;
• Utility applications for crypto — like the?recently announced?support for a stablecoin (USDC) on Coinbase and continued development of Coinbase Wallet;
• Bringing institutional funds into crypto.

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