Coinbase unveiled a venture capital arm on Thursday, as the major cryptocurrency exchange seeks to build up the industry’s ecosystem, the company announced in a blog post. “We’re announcing the formation of Coinbase Ventures,” Emilie Choi, head of corporate development and business operations at Coinbase, said in the blog post. “We’ll be providing financing to promising early stage companies that have the teams and ideas that can move the space forward in a positive, meaningful way.” Coinbase also said that none of its portfolio companies will be offered favored-asset status and that it will follow its Digital Asset Framework to determine which new assets to add to its exchange. Read more here.

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