What we achieved at Coinbase in This fall 2018


Final week, I despatched a be aware to the Coinbase group about what we achieved in This fall. I’m sharing it right here with our prospects and the crypto neighborhood extra broadly as I’ve done in the past .

Crew,

I hung out 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 come back collectively and gel, and this shall be a serious focus of 2019. On the similar time, we had unbelievable successes together with every little thing we launched (see under), excellent hiring, and a effectively timed fundraise that units us up for success.

Beneath, I’ll do my greatest to seize every little thing we achieved in This fall.

WE LAUNCHED:

In This fall, we launched every little thing from new merchandise to requested options to integrations that scale our skill to serve prospects. Along with the property, rails, and geographies we’re including, we’re constructing the infrastructure to proceed our position because the bridge from fiat to crypto for individuals throughout the world:

  • Consumer crypto-to-crypto trading: Giving prospects the power to commerce crypto pairs instantly on our platform.
  • News on Consumer: Showcasing related information to assist our prospects study in regards to the crypto house.
  • Watchlist: Simplifying the shopper expertise by permitting them to personalize their Coinbase dashboard and soak up info at-a-glance.
  • Address book and whitelisting for Pro: Streamlining prospects’ skill to securely ship crypto, and extra simply add financial institution accounts.
  • PayPal integration: Giving US prospects 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 individuals to grasp and use crypto by studying about it and incomes it.

WE ACHIEVED:

There's a lot work that goes on at Coinbase that allows us to launch options, merchandise, and add property, all whereas guaranteeing we stay as much as our repute as most trusted and best to make use of. The next are just some 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 Era Three to Era 4 of our chilly storage infrastructure.
  • We established Coinbase Custody as a restricted objective belief firm beneath New York State Banking Legislation to function as an impartial Certified Custodian, permitting us to compliantly retailer extra property and probably add new options like staking.

WE RAISED

We raised $300M+ from a set of world-class investors. This Collection E spherical is a testomony to the work you've got been doing during the last yr (and longer) to ascertain Coinbase as an organization with nice potential to create an open monetary system.

WE INVESTED:

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:

  • Spacemesh
  • Abacus
  • Nomics
  • Threat Labs (UMA)
  • Starkware
  • Realtybits
  • Alchemy
  • Terminal
  • Flipside Crypto
  • Related
  • Securitize
  • Staked.us
  • Gauntlet

WE ADDED:

Our purpose is to take care of the trusted expertise our prospects have come to anticipate whereas including the property our prospects have come to demand. This quarter, we added extra property than in our complete prior historical past as an organization, and expanded our providers to extra individuals in numerous international locations.

  • USDC
  • ZCash
  • 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 out there within the following extra areas:

  • Andorra
  • Gibraltar
  • Guernsey
  • Iceland
  • Isle of Man
  • Lithuania

SO IN CONCLUSION…

I proceed to be so impressed by the power 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 prospects.

We requested plenty of everybody on the group. I’m pleased with how we rose to the event to fulfill the challenges and alternatives earlier than us this yr. I hope everybody has an exquisite vacation with household and pals. 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.

Brian


What we accomplished at Coinbase in Q4 2018 was initially revealed in The Coinbase Blog on Medium, the place persons are persevering with the dialog by highlighting and responding to this story.

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