Coinbase Takes Major Step For Crypto & AI Push In UK With This Partnership
Highlights
- Coinbase partners with Founders Factory, Animoca Brands, and Fabric Ventures.
- The exchange aims to launch a 16-week program for crypto and AI startups.
- Coinbase US is launching the Bitcoin Yield Fund, set to launch on May 1.
Crypto exchange Coinbase is partnering with Founders Factory, Animoca Brands, and Fabric Ventures to launch a 16-week program supporting blockchain and AI startups. In a recent announcement, the exchange revealed its strategic deal with the UK Venture studio and investment giants to boost crypto and AI innovation in the country.
Notably, Coinbase’s initiative comes as the UK is reportedly seen as lagging behind in becoming a major hub for the crypto and AI sector. Let’s explore the details of the exchange’s new venture and its potential implications on the UK’s crypto and AI landscape.
Coinbase Launches AI and Crypto Initiative: Know More
Partnering with Founders Factory, a UK-based venture studio, and the crypto investment firms Animoca Brands and Fabric Ventures, Coinbase is setting its sights on the AI space. The top crypto exchange is planning to organize a 16-week program exclusively for AI and crypto startups.
“The initiative will be unveiled at the Global Fintech Forum on Monday, under the auspices of the UK’s Department for Business and Trade,” stated Coinbase’s UK CEO, Keith Grose. These platforms will unveil the initiative at the Global Fintech Forum on Monday, under the auspices of the UK’s Department for Business and Trade.
Unlocking Next Wave of Crypto & AI
Significantly, this joint venture intends to provide proper guidance to the freshers in the broad crypto and AI spaces. “What we’re looking for is people that are building real-value, high-integrity, trusted applications that will drive broader market adoption for either consumers or enterprises,” Founders Factory chief operating officer Damian Routley stated.
Founders Factory will work with selected founders on business strategy, product development, and fundraising. At the same time, Animoca and Coinbase would share their extensive Web3 experience and expertise with the fledgling startup companies.
According to Routley, applications for the program will open in June 2025. The COO also announced that the program will kick off in September.
Coinbase US Expands Offerings with Bitcoin Yield Fund
In a parallel development, Coinbase US is launching the Bitcoin Yield Fund, set to launch on May 1. The fund targets a 4-8% annual return in Bitcoin for non-US institutional investors. It will utilize a cash-and-carry trading strategy to capitalize on price discrepancies in the Bitcoin market.
These developments come amid the recent legal developments within the Coinbase ecosystem. Alabama’s Securities Commission has dropped its legal action against the exchange, marking a significant milestone.
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