Coinbase raises $75M in largest bitcoin funding round to date

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Despite a price crash and security breach to start 2015, it appears investor interest in bitcoin hasn’t slowed down. Payments processor and wallet startup Coinbase announced today a $75 million Series C, the largest ever for a bitcoin startup in the industry’s history. It brings the company’s total funding to $106 million. Bloomberg estimates the company to be valued at $400 million.

The round was led by DFJ Growth and included, for the first time, an investment in a bitcoin startup from a financial institution. The New York Stock Exchange, USAA and BBVA all participated in the round alongside existing Coinbase investors Andreessen Horowitz, Union Square Ventures, and Ribbit Capital.

With this round of funding, it looks like Coinbase wants to continue to drive overseas adoption of bitcoin — a long-time area of interest for bitcoin usage, but where adoption and startups still lack. As part of the round, Coinbase has signed on NTT DoCoMo, Japan’s largest mobile telecommunications operator, as a strategic partner and CEO Brian Armstrong reiterated his plans to bring bitcoin to global underbanked in an interview with Coinbase.

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