How Coinbase is En Route to Becoming the ‘NYSE’ of Crypto


#1

Back in early 2015, Coinbase was reported to have raised $75 Million in a growth round of funding that was led by DFJ (Draper Fisher Jurvetson) and included other participants such as USAA, NYSE, Andreessen Horowitz, Union Square Ventures, and Ribbit Capital. Back then, such an amount raised for a crypto firm was unheard of and Bitcoin (BTC) was trading at only $212. It can be said that the team at Coinbase had seen the future of the crypto industry by starting off almost 4 years ago.

Present Day Developments at Coinbase

Fast forward to September 2018 and we can see how the firm is slowly but surely placing itself to becoming a major player in the cryptocurrency space to a level similar or equal to the NYSE’s (New York Stock Exchange) dominance on Wall Street.

The exchange has on numerous occasions, showcased that it is still a forward thinking firm. The first case was when it announced it was launching custody services for the storage of large amounts of digital assets for institutional investors and high net individual looking to buy and HODL crypto.

It is with the above developments that it is no surprise that the exchange plans on becoming the preferred exchange for crypto securities on a level similar or greater, to how the NYSE is the choice for investors in the traditional markets.

Coinbase’s CEO, Brian Armstrong, laid out his vision for the firm during a recent TechCrunch event in San Francisco. Armstrong stated the following with regards to what the future holds for Coinbase:

It makes sense that any company out there who has a cap tables should have their own token. Every open source project, every charity, potentially every fund or these new types of decentralized organizations and apps, they’re all going to have their own tokens.

" We want to be the bridge all over the world where people come and they take fiat currency and they can get it into these different cryptocurrencies".

A future where securities are tokenized is becoming more and more plausible given the fact that any transaction on the blockchain is immutable and secure. This in turn means that the process of issuing and trading these securities will be more secure on the blockchain. Coinbase wants to spearhead the trading of such investment instruments.

Armstrong summed up his vision for the firm as follows:

Our approach has always been to be the most trusted [exchange] and the easiest to use. So we want to be the legal compliant place where you can start to trade these tokens that are classified as securities.


#2

Undoubtedly, Coinbase is a whale among exchanges and people do like it. I just hope that Coinbase will start their functions in our country too.


#3

almost all exchangers would want to position themselves first and beat other exchangers, by giving them some advantages. but for koinbase, don’t get ranked, but forget about security, because the security of the exchanger is very important so that hackers cannot be stolen


#4

Just be cautious because daily one exchanges is being launched and some of them are scams too. One or two exchanges has already fled with all the deposits people make into them.