Coinbase Invests $12.75 Million To Create Digital Security Offerings
The $8 Billion crypto exchange behemoth, Coinbase, is one big-name that crypto investors are supporting for a project targeted to revolutionize the securities industry in the U.S. with the help of blockchain tech.
Coinbase CEO, Brian Armstrong, claimed to the media in San Francisco at an event this September that the firm aims to be the genuine marketplace for trading and buying crypto securities. Now, its VC arm (Coinbase Ventures) has supported a startup that aims to assist increase demand in the market for such a security item.
Securitize provides a series of services to assist firms make blockchain-supported security tokens. This week it claimed that it has lifted a $12.75 Million in Series A round of funding spearheaded by Blockchain Capital with investors such as Ripple’s Xpring fund, Japan’s Global Brain, and Coinbase Ventures taking part.
The aim of Securitize is to importantly tokenize shares to offer extra transparency, elevated liquidity/trading, and more competent processes, Armstrong claimed to the media.
On a related note, Coinbase earlier declared the recommencement of its service to trade cryptocurrency in the Wyoming state. This declaration follows after 3 Years of the platform suspending all operations in the state owing to regulatory problems.
Being the biggest platform for cryptocurrency exchange in the U.S., Coinbase recommenced its cryptocurrency operation in Wyoming. It lately renewed its license for money transmitter. This allows users to trade on the platform using cryptos. This renewal follows after an absence of 3 Years in Wyoming.
In 2015, Coinbase stopped its services in Wyoming. This was owing to the Wyoming Money Transmitter Act that needed all exchanges to increase its reserve for the assets 2 times by the state residents. After 3 Years, in 2018, new rule was inked into law, which removed the problem of the two-fold reserve.
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