Coinbase Invests in Startup ‘Compound’ That Lets User Earn Interest on Cryptocurrencies


Coinbase Venture, the venture capital fund of the company has made its first investment in a startup called Compound which allows cryptocurrency to borrow digital currencies or lend them and earn interest over it. This shows that the cryptocurrency industry is adopting some cues from the traditional banking industry which allows users to receive interest on their digital currency holdings rather than just keeping them idle.

Coinbase was one of the eight participants in this $8.2 million seed‐funding round with some other backers like Andreessen Horowitz, Bain Capital Ventures, and Polychain Capital besides participants from companies like Abstract Ventures, Danhua Capital, Transmedia Capital, and Compound Ventures.

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