Coinbase secures major vote of confidence

Today Coinbase, a popular Bitcoin broker and merchant services provider, announced the closure of a $75 million fundraising round. That is a huge investment – the largest in a Bitcoin related company to date. Perhaps even more impressive is the roster of investors. Included are some major financial institutions: the New York Stock Exchange, USAA, and BBVA.

Investments like this demonstrate a clear interest in Bitcoin held by major institutions. There has already been significant VC investment in the space. Today’s news is an indication that technology and financial companies understand the technology’s potential and seem to be  waiting for the right opportunities. Part of creating those opportunities is reducing regulatory uncertainty, especially for more established institutions to feel comfortable to engage.

Once a sound regulatory regime is in place, one should expect many more such investments from companies and individuals that are interested in building out Bitcoin services.

Disclosure: Coinbase is a Coin Center supporter.