Coinbase, a San Francisco-based cryptocurrency trading platforms and wallets operator, is seeking to raise $100 million from investors, at an $1 billion valuation, reports The Wall Street Journal, quoting people familiar with the matter.
According to the media, further details are still not available, but the sum would be the biggest amount of funds received by a company involved in the cryptocurrency business.
So far Coinbase has received around $117 million from various investors, including Andreessen Horowitz, Union Square Venture, Draper Fisher Jurvetson, as well as a number of financial companies and the NYSE.
Initially Coinbase was offering only trading in bitcoin, but last year it rebranded its institutional platform to Global Digital Asset Exchange and expanded its offering with Ethereum and made it to the Forbes 50 Fintech list.
This year the exchange obtained a license from the state of New York and further expanded its offering with Litecoin.
Recently Coinbase reported it has over 6 million users from 32 countries and over 13 million cryptocurrency wallets. A Reddit post claims that 2 million of the users signed up in the last six months. According to the company data, on its platforms were traded cryptocurrencies worth over $6 billion and it hosts 45 000 merchants.