Coinbase is out on a mission for fundraising, with the target of $100 million. It is the leading Bitcoin wallet and exchange platform that is seeking for investors and further plans in fundraising by them would be the biggest ever by any cryptocurrency business.
Coinbase, founded by Brian Armstrong and Fred Ehsram, has so far raised $116.5 million from various banking and financial institutes, currently, values $ 1 billion, and operates in various countries.
Despite the increased need for liquidity, the company is in the way of expanding its services to different companies. The company has set its eyes in Japanese, Chinese and South Korean markets, following the new round of funding.
Coinbase is in dire need to upgrade its infrastructure due to the frequent outage and disruption of operations resulting due to the heavy influx of new users and traffic.
The sudden high demand in cryptocurrency, causing the price surge in the global markets came after the legalisation of Bitcoin in Japan.