By investing in other crypto businesses, including some that may become competitive with Coinbase, the company hopes to further seed the ecosystem by backing great founders.
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Bitcoin exchange Coinbase launches early-stage venture fund
Adding a new coin to Coinbase would likely bring in many more buyers. Rumors that the exchange would add XRP sent prices up earlier this year. The company is not adding any new cryptocurrencies at the moment but Hirji said as soon as there is more regulatory clarity, it will start listing more assets. Meanwhile, Coinbase Ventures will not give preference to companies they invest in when it comes to choosing new cryptocurrencies for the platform, he said. "We are not investing in currencies because we do not want even the appearance of a conflict of interest," Hirji said.
