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It
is not clear which investors are committing to the round, which
was described as targeting around $100 million or more, the
Journal reported, citing people familiar with the matter.
(http://on.wsj.com/2rtMkk8)
That would represent the biggest funding round on record for
venture-backed bitcoin companies, the report said.
A Coinbase spokesman declined to comment when contacted by
Reuters.
Coinbase, the world's largest bitcoin company, has seen heavy
traffic and trading on its platform in recent weeks as bitcoin
reached all-time highs.
Demand for crypto-assets has soared with the creation of new
tokens to raise funding for start-ups using blockchain
technology.
Coinbase said in January it raised $75 million from several
major financial institutions including the New York Stock
Exchange, USAA Bank and Spanish banking group BBVA. (http://reut.rs/2qKUcRm)
Earlier this year, Coinbase received a virtual currency and
money transmitter license from the New York Department of
Financial Services.
(Reporting by Bhanu Pratap in Bengaluru; Editing by Sai Sachin
Ravikumar)
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