Published on May 18th, 2018 | by bitcoin0
Coinbase Startup ‘Compound in Ints’ is the interest to earn users on Cryptocurrencies
Along with Coinbase there were eight participants in this $8.2 million seed-funding round.
Coinbase Venture, the venture capital fund of the company has made its first investment in a startup called Compound which allows cryptocurrency to borrow digital currencies or lend them and earn interest over it.
This shows that the cryptocurrency industry is adopting some cues from the traditional banking industry which allows users to receive interest on their digital currency holdings rather than just keeping them idle.
The borrowers like sophisticated speculators or hedge funds will be using their portfolio as collateral in order to borrow from the protocol.
Compound’s goal is to become permanent infrastructure…A company that survives a hundred years.”