Westpac VC invests in Bitcoin company Coinbase

Investing | July 7, 2015 By:

Australia’s second-largest bank Westpac has directed its venture capital fund, Reinventure Group, to invest in Coinbase, a San Fransisco-based Bitcoin startup.

“We plan to work closely with Reinventure and share insights into the use of digital currencies globally,” said Coinbase.

A representative from Westpac said that the investment would yield “key insights into the use of digital currencies and associated technologies.

Coinbase reported a major investment of $75 million from a crew of investors including BBVA Ventures, USAA Bank and the New York Stock Exchange among several others.