Bitcoin exchange provider Coinbase has raised $10.5m in new funding from investors including Bank of Tokyo Mitsubishi UFJ, Mitsubishi UFJ Capital and Silicon Valley VC firm Sozo Ventures.
In statements, Coinbase said that the partnership will help it bridge the gap between blockchains and the traditional financial industry.
With the news, Coinbase said it would seek to launch services in Japan, a move that would make it the second Asian market served by the firm.
Coinbase’s all-time funding total now stands at $116.7m, a figure that puts it behind bitcoin payment services provider Circle, which has raised $136m in four public funding rounds.
Investors in previous Coinbase rounds include the New York Stock Exchange (NYSE), BBVA Ventures and QueensBridge Venture Partners.
Disclaimer: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Coinbase.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.