Final week, I despatched a observe to the Coinbase group about what we achieved in This fall. I’m sharing it right here with our clients and the crypto neighborhood extra broadly as I’ve done in the past .
I frolicked on the final All Arms of the yr reflecting on 2018 as an entire. This yr we added plenty of headcount. As anticipated, this put some pressure on communication, resolution making, and even belief. We’re a largely new group that also wants to return collectively and gel, and this will likely be a serious focus of 2019. On the similar time, we had unbelievable successes together with all the pieces we launched (see under), excellent hiring, and a effectively timed fundraise that units us up for achievement.
Under, I’ll do my finest to seize all the pieces we achieved in This fall.
In This fall, we launched all the pieces from new merchandise to requested options to integrations that scale our means to serve clients. Along with the property, rails, and geographies we’re including, we’re constructing the infrastructure to proceed our function because the bridge from fiat to crypto for folks all all over the world:
- Consumer crypto-to-crypto trading: Giving clients the flexibility to commerce crypto pairs instantly on our platform.
- News on Consumer: Showcasing related information to assist our clients study in regards to the crypto house.
- Watchlist: Simplifying the client expertise by permitting them to personalize their Coinbase dashboard and soak up data at-a-glance.
- Address book and whitelisting for Pro: Streamlining clients’ means to soundly ship crypto, and extra simply add financial institution accounts.
- PayPal integration: Giving US clients the chance to make quick, free withdrawals to PayPal accounts.
- USDC: A digital, programmable greenback, launched in partnership with Circle.
- Coinbase Earn: Creating alternative for extra folks to grasp and use crypto by studying about it and incomes it.
There may be a lot work that goes on at Coinbase that allows us to launch options, merchandise, and add property, all whereas making certain we dwell as much as our repute as most trusted and best to make use of. The next are only a few examples of this type of work from This fall:
- We put security first — we efficiently accomplished an on-blockchain migration of roughly $5 Billion (as valued the week ending Dec. 7, 2018) of cryptocurrency from Technology Three to Technology 4 of our chilly storage infrastructure.
- We established Coinbase Custody as a restricted function belief firm below New York State Banking Regulation to function as an unbiased Certified Custodian, permitting us to compliantly retailer extra property and probably add new options like staking.
We raised $300M+ from a set of world-class investors. This Sequence E spherical is a testomony to the work you may have been doing over the past yr (and longer) to determine Coinbase as an organization with nice potential to create an open monetary system.
Our investments symbolize our dedication to advancing the ecosystem towards the utility section of crypto, and fueling tasks that get us nearer to an open monetary system. This quarter, we invested in another round of organizations, together with:
- Threat Labs (UMA)
- Flipside Crypto
Our objective is to keep up the trusted expertise our clients have come to anticipate whereas including the property our clients have come to demand. This quarter, we added extra property than in our complete prior historical past as an organization, and expanded our companies to extra folks in several international locations.
- Ethereum Tokens: BAT, CVC, DAI, DNT, GNT, LOOM, MANA, MKR, ZIL, ZRX
- Custody now helps ~79% of crypto property by market cap
…And Coinbase is now obtainable within the following further areas:
- Isle of Man
SO IN CONCLUSION…
I proceed to be so impressed by the flexibility of this group to execute on aggressive timelines, all whereas fixing issues which have by no means been solved earlier than. This was a yr of scaling Coinbase as much as meet the demand of the market and effectively executing to serve our clients.
We requested plenty of everybody on the group. I’m happy with how we rose to the event to satisfy the challenges and alternatives earlier than us this yr. I hope everybody has a beautiful vacation with household and associates. Can’t wait to do all of it once more in 2019.
As with final quarter, I’ll be sharing a few of this externally in a weblog put up within the subsequent couple of days.