Coinbase Launches New Platform – Startup Can Create Custom Cryptos

Coinbase made headlines back in April after the massive BTC fall from Marc when CEO, Brian Armstrong made a bold crypto-related prediction amidst the global crisis in which we are these days due to the coronavirus pandemic.

Recently, via a few tweets, he said that he believes the stock market drop and the massive reduction in interest rates could boost the crypto industry in 2020.

Now the crypto market is falling again, and some experts fear that BTC might drop below $10k which would be the worst possible thing at the moment.

Some believe that, on the contrary, it could be just another opportunity to buy BTC at a lower price.

Coinbase is working on a new platform

Anyway, it’s been just revealed that the crypto exchange is developing a platform that aims to offer startups an easy way to launch custom digital assets.

In a podcast that’s been hosted by investor Patrick O’Shaughnessy, Coinbase CEO talks about the many regulatory and funding impediments faced by crypto startups.

It’s important to note that the crypto exchange has invested in at least 60 crypto startups via Coinbase Ventures. Armstrong says that regulatory nuances are still not clear for startups that are trying to break into the space.

“There’s a lot of really talented teams trying to build companies this way now, but a lot of the regulatory environment is still unclear for them about, ‘Is this a security? What kind of securities regulations might you trip up if you do these’ And so, there’s all these kind of different exemptions and stuff that people are trying to jump through hoops to try to make [it] work,” he said as quoted by the Daily Hodl.

It’s been also revealed that in order to help startups navigate the space, Coinbase is going back to the drawing board by building a service that is provisionally called Coinbase Launch, according to the latest reports coming from Coinbase.

Check out the complete podcast in order to learn everything that Armstrong had to say.

This service will “streamline processes, from the creation of smart contracts to the launching of token offerings and everything in between.”


People Mentioned

Brian Armstrong
Brian Armstrong

Brian Armstrong is the co-founder and CEO of Coinbase, one of the largest crypto exchanges in the world (its reported Coinbase holds 966,230 Bitcoin ($7B) in Cold Wallet). Prior to his involvement with the blockchain and Coinbase, Armstrong worked at Deloitte and Touche as an Enterprise Risk Management Consultant.

Companies Mentioned

Coinbase
Coinbase

Coinbase is a digital currency exchange headquartered in San Francisco, California.

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Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

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