Coinbase’s New Partnership Helps Give Back with Crypto

Coinbase’s New Partnership Helps Give Back with Crypto

To celebrate the season of giving, digital currency wallet and crypto management platform Coinbase announced a partnership that will create a way for its users to donate their crypto.

Coinbase has chosen to integrate with micro donations platform DustAid to provide its users in the U.K. with an option to donate to their choice of three charities:

  • NSPCC, a children’s charity that seeks to keep young people safe from abuse
  • The Little Edi Foundation, which provides support and grants to struggling rural communities in Romania
  • Space for Giants, which helps protect and secure the future of elephants and their landscapes

Donations are facilitated through Coinbase Commerce, Coinbase’s service that allows merchants to accept multiple cryptocurrencies and maintain full control of their own digital currency. Coinbase Commerce launched in early 2018 and integrates directly into a merchant’s checkout screen. Since then, the company has amassed more than 2,000 merchants on the service.

“We firmly believe that by using blockchain technology we can help charities positively impact people all over the world. DustAid’s mission is to make giving a simple, easy and transparent part of our daily lives,” said Duncan Murray, Managing Director of DustAid. “We are really proud to be working with leading organizations like Coinbase and NSPCC to make this a reality and to help children be heard this Christmas.”

After its most recent funding round of $300 million, Coinbase’s total funding reached just under $550 million. Recently, the company launched its Coinbase Pro trading platform on mobile and added five new currencies to the Coinbase Card. Coinbase demoed InstantExchange at FinovateSpring 2014.

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Coinbase Pro Goes Mobile

Coinbase Pro Goes Mobile

There have been mobile apps allowing investors to trade stocks on-the-go for a decade now, but mobile options for crypto traders have been limited. That is, up until today.

Digital currency wallet and crypto management platform Coinbase launched the Coinbase Pro mobile app on iOS today. The company notes it will ship on Android “soon.”

The new app offers much of the same functionality as the desktop platform and allows traders to quickly see prices, check their portfolios, and place orders. Similar to the desktop version, the app features analytical tools such as real-time candles, depth charts, order books, and advanced order types. And, just like the desktop version, orders made via the mobile version are subject to the same fees.

Coinbase Pro launched in May of last year to serve Coinbase’s active crypto traders. Coinbase Pro fees range from 0.50% to 0.0% on trades made in a 30-day period. Similar to Coinbase Pro but for institutional clients, Coinbase offers Coinbase Prime.

After its most recent funding round of $300 million, Coinbase’s total funding hit $525 million and its valuation rose to $800 million. Coinbase demoed InstantExchange at FinovateSpring 2014.

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Grayscale Selects Coinbase to Store its $2.7 Billion in Crypto Assets

Grayscale Selects Coinbase to Store its $2.7 Billion in Crypto Assets

Digital currency wallet and crypto management platform Coinbase landed a major win today. The California-based company announced that Grayscale, a major digital asset fund manager, has partnered with Coinbase to store its $2.7 billion worth of assets on Coinbase Custody.

Launched in 2017, Coinbase Custody is a cold storage solution for crypto assets. In May of this year, Coinbase Custody reported it had reached $1 billion in crypto assets under management. Today’s agreement with Grayscale, which will use Coinbase Custody to store all of its digital assets, more than doubles Coinbase Custody’s AUM.

According to the Coinbase blog, Grayscale selected Coinbase Custody after researching more than 30 other custodians. All were evaluated on factors such as security, regulatory compliance, insurance coverage, scalability, and their suitability as a partner. “We’re honored to have been selected based on such a comprehensive evaluation process,” Coinbase said in a blog post.

Coinbase aims to be top-of-mind with traditional wealth management firms as they add crypto to their offerings. The company’s Coinbase Pro offering provides a compliant way to access a regulated, verified crypto liquidity with APIs and hands-on customer service.

After its most recent funding round of $300 million, Coinbase’s total funding hit $525 million and its valuation rose to $800 million. Coinbase demoed Instant Exchange at FinovateSpring 2014. 

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