Leading U.S. cryptocurrency exchange Coinbase has updated its investment policy in order to increase investments into cryptoassets.
According to a recent blog post, Coinbase has decided to make a change in its investment policy towards greater crytpoasset involvement, The company reports the decision was made after noticing that the “majority” of Coinbase corporate financial transactions, such as paying vendors, employees and investing corporate cash, are heavily weighted in fiat.
The blog post also said that Coinbase’s new strategy is committed to investing $500 million of its existing cash and cash equivalents, as well as 10% of its future quarterly net income, in cryptoassets:
Going forward, we will also allocate 10% of quarterly net income into this same portfolio.