Coinbase, already seen as one of the most trusted US exchanges, has been on a growth roll lately, notching up a string of moves in several fields, including acquisitions and returning to social media advertising, and in the process stepping closer to bridging the crypto and the mainstream.
At the forefront of these is the announcement that the cryptocurrency exchange has been given the thumbs up for three acquisitions. These involve planning and investment management company Digital Wealth LLC, and broker dealers Venovate Marketplace Inc and Keystone Capital Corp, which would earn the San Francisco cryptocurrency exchange broker dealer status.
Acquiring this status would mean that Coinbase could then move beyond offering only those cryptocurrencies labelled utility (non-investment) tokens and into the sphere of those considered by the Security Exchange Commission to be securities, which will offer individual investors in the US a wider cryptocurrency offering.
Coinbase also feels the licenses involved that allow this expansion of services will offer the exchange additional cover when the expected new SEC rules regarding the registration of cryptocurrencies and digital tokens are introduced.
Coinbase Back on Facebook
Coinbase was also given the go-ahead to advertise on Facebook recently after the social media platform and Google’s recent decision to lift the ban on crypto advertising it introduced in January, a move that has itself given rise to rumours of change in recent weeks. These include the possibility that Facebook might be looking to enter the cryptocurrency sphere itself and speculation in the industry that it might be thinking about buying Coinbase.
While Coinbase has not yet reacted to these rumours, CEO Brian Armstrong was quick to tweet about the lifting of the ban and post an advertisement along with it. His tweet read: “Facebook banned ads for crypto earlier this year. Proud to say we’ve now been whitelisted and are back introducing more people to an open financial system”.
Facebook banned ads for crypto earlier this year. Proud to say we've now been whitelisted and are back introducing more people to an open financial system 👌 pic.twitter.com/JqF5ssAqqh
— Brian Armstrong (@brian_armstrong) July 20, 2018