Coinbase is on the march, confirms aggressive expansion plan
Coinbase looks like it’s going to be spending some of that investment money it’s accrued…
Cryptocurrency trading platform Coinbase isn’t letting something as trivial as chaos in the crypto markets get in the way of its plans, which have seen it move into new territories across the year. And it’s now announced aggressive plans for further expansion.
The company has already expanded its operations into Andorra, Iceland, Lithuania and the Isle Of Man in recent times. It’s also just opened up a new office in Dublin as well, as it puts in place its plans in case the UK’s exit from the European Union in 2019 doesn’t go smoothly.
Now, though, it’s revealed that it’s looking to branch into more territories in 2019. The news was confirmed by the company’s UK CEO, Zeeshan Feroz. He said that Coinbase in on the lookout for markets that work within similar jurisdictions to those the company currently operates in. And furthermore, that more expansion is imminent.
“I think you can expect a more aggressive approach to us adding more countries in the coming months”, he admitted. “Much of what we’re doing here is driven by customer needs and what we’re seeing in the market”.
Feroz isn’t overly phased either by the current price pressures on cryptocurrencies. Instead, he’s noted that the focus appears to be switching from simply making money and shifting it around the ecosystem, to a focus on what the underlying projects behind said currencies actually meant.
Coinbase certainly has the coffers for further expansion, having raised hundreds of millions of dollars in a recent fresh round of funding for a possible rainy day. Said funding round valued the company at a mouth-watering $8bn. Expect some of that funding to be spent in the months to come…