March 11, 2015 | News, Press Releases

Coinbase Joins the Internet Association

Beckerman: “Coinbase is a leader in the field of digital currency, and their track-record of expansion and innovation makes them an exciting and welcome addition to the Internet Association.”

 

Washington, D.C. — The Internet Association is proud to announce that Coinbase has joined the growing organization of Internet companies. Coinbase, founded in 2012 and based in San Francisco, is one of the world’s most popular digital currency platforms, with 2.5 million consumer wallets, 6,000 developer applications, and 38,000 merchant users worldwide.

“Bitcoin is currency built for the Internet,” said John Collins, Head of Government Affairs at Coinbase. “As the trusted brand in the bitcoin ecosystem, we are thrilled to join the Internet Association and serve as a voice for the growing community of consumers, merchants and developers building on the bitcoin protocol. Our vision for bitcoin as a free and open, global payments system aligns with IA’s own commitment to online freedom and innovation, and we look forward to furthering that mission as a member.”

From traditional financial institutions to the 2.5 billion global unbanked, bitcoin has the potential to touch every aspect of the financial system, and Coinbase has encouraged this mainstream adoption by making it easy and secure for people to buy, use, and accept digital currency.

Coinbase recently raised $75 million in Series C financing, the largest funding round for a bitcoin company to date. Participants in the round included the likes of BBVA, the New York Stock Exchange and a subsidiary of USAA, marking the first time that financial institutions have made a major investment in a Bitcoin company. Having expanded internationally last year, Coinbase now serves users in 24 countries worldwide, and just launched Coinbase Exchange, a fully licensed U.S. bitcoin exchange.

“Coinbase is a leader in the field of digital currency, and their track-record of expansion and innovation makes them an exciting and welcome addition to the Internet Association,” said Michael Beckerman, Internet Association President and CEO. “We look forward to working with Coinbase and harnessing their insights about the role of digital currency and online payment systems in our Internet economy.”

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