Decentralized finance protocol (DeFi) Ethereum has announced a strategic partnership with cryptocurrency exchange Coinbase to bring on-chain financial and savings products to a wider audience.
The parties aim to develop financial products for a total of more than 100 million users, and the partnership’s first initiative will be launched next week.
Ethereum announced that its partnership with Coinbase aims to accelerate the adoption of on-chain financing and savings solutions. The company stated that the partnership’s first growth-oriented initiative will launch next week.
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Another notable aspect of the partnership is that Coinbase Ventures, the company’s investment arm, has invested in Ethereum. Ethereum has announced that Coinbase Ventures has made an open market investment in its company $ENA sign.
In a statement on the matter, the company stated that Coinbase Ventures supported Ethereum through its purchase $ENA from the open market. The company added that Ethereum plays a critical role in the on-chain financial ecosystem and expressed its pleasure to work more closely with the company and USDC.
*This is not investment advice.