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