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Adhere to the long-term vision and get connected with the A round of financing
It is understood that Coinbase announced on December 8, 2020 that its company has submitted S-1 listing application documents to the US Securities Regulatory Commission. The document disclosed that Coinbase participated in the Series A investment in Amber Group in January 2020.
This round of financing was led by global cutting-edge institutions Paradigm and Pantera Capital, and the participants also included a number of well-known investment institutions including Coinbase Ventures, with a total of 28 million US dollars. Fred Ehrsam, who is also the co-founder of Paradigm and Coinbase, also played a key role in this cooperation.
Talking about this financing and in-depth cooperation, Michael Wu said: The cooperation between the two parties has benefited from the agreement in many aspects, including the high recognition of the professionalism of each others teams; the similar entrepreneurial genes and the fact that the two parties are respectively rooted in the United States and The Asian market has fully accumulated in encrypted financial services.”
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Boost the Asian market and jointly build a new level of industry
According to information from various sources, 2020 may be called the first year of institutional entry in the encrypted financial market, including the support of large institutions such as MicroStrategy, Square, PayPal, and Tesla for Bitcoin and other cryptocurrencies, which has accelerated the development of encrypted financial markets. process of globalization and popularization. It is not difficult to predict that with the official listing of Coinbase in 2021, the entire industry will also move to a new level.
Regarding the impact of the listing of Coinbase, Michael Wu believes: We see that the value discovery triggered by the entry of institutions in 2020 is already being transmitted to Asia, and the listing of Coinbase will accelerate this trend. Coinbase has a market value of 100 billion The giant enterprise of Amber Group, which insists on long-term value of encrypted financial service providers like Amber Group, has clarified the direction of progress, and the whole industry will officially enter a new stage.”
It is understood that since Coinbase received a total of US$300 million in E-round financing led by Tiger Global Management in 2018, Coinbase has rapidly expanded its business scope and valuation through sector layout and acquisitions. For institutions and individuals, the two parallel business segments have realized a complete ecological closed loop. At the same time, Coinbase has also successfully transitioned from a trading platform focusing on personal services to a comprehensive encrypted financial service provider that also provides professional institutional business services, including MicroStrategy and Amber Group, which bought 70,000 bitcoins in a high-profile manner, both of which are important to Coinbase. institutional clients.
At the same time, Amber Group, as an early encryption financial service provider for global institutional customers, also officially realized the key transition from institutional services to institutional-level services through the product matrix in 2020, becoming a global institutional and individual user, covering the whole world. An encrypted financial intelligence service platform for the value chain. Different routes lead to the same goal. Both Amber Group and Coinbase take security and compliance construction as an important development strategy, or are carrying out a silent relay when the industry is moving towards a new level.
