The US-based cryptocurrency exchange Coinbase has announced an investment round for startups focused on stablecoins.
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In celebration of USDC’s capitalization growth, and the rapid rise of stablecoins as an important crypto innovation, the exchange is issuing a Request for Startups.
"Coinbase Ventures and the USDC Bootstrap Fund are excited to fund and work with promising startups and with developers building decentralized protocols that advance our mission," the exchange wrote in an official blog post.
Coinbase believes stablecoins based "on crypto rails" simplify access to other digital assets regardless of where a user lives. Currently, the exchange sees the following problems that need solving:
- Infrastructure and tooling to make it easier to create and operate new protocols;
- Custody-as-a-service so developers can focus on solving use cases, not managing storage;
- Global, inexpensive on-and-off ramps so people and businesses can easily move between fiat and crypto with KYC that respects local regulation.
Earlier, the European Union finance ministers had called for greater control of stablecoins issuers.
At least France, Germany, Spain, the Netherlands and Italy made the request during the EU event held previously in Berlin.
Specifically, German Finance Minister Olaf Scholz argued stablecoins should not be able to be used within the bloc unless they comply with the current regulations.
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