return icon Vietnamnet.vn

Will Vietnamese "unicorn" Coin98 be listed on Coinbase?

If this turns out to be true, US investors will have easier access to Coin98. This would open a new development period for Vietnamese Blockchain startups.

For fans of cryptocurrencies, Coinbase is well known. It is a cryptocurrency exchange based in San Francisco (California, USA).

Coinbase was founded in 2012 by Brian Armstrong and Fred Ehrsam and is currently the largest cryptocurrency exchange in the United States by trading volume.

Coinbase is also one of a few Blockchain companies that filed an IPO application, and is now listed on the NASDAQ with a valuation of nearly 90 billion USD.

Coinbase is considered an important “gateway” for Blockchain projects to have access to US investors.

On its blog, Coinbase recently shared information about a number of cryptocurrencies that are being considered for listing on this exchange in the second quarter of this year.

The list includes some prominent projects such as Arcblock (ABT), Binance USD (BUSD), BitDAO (BIT), DappRadar (RADAR).  Notably, among about 50 projects considered for listing on Coinbase, Coin98 (C98) from Vietnam is included.

Coin98 is a DeFi (decentralized finance) ecosystem with the aim of helping users access the decentralized financial market. Towards that goal, Coin98 has developed a set of products to serve the needs of users from trading and storing to managing, lending and saving assets.

Cryptocurrency wallet - the main product of the startup Coin98. Photo: Trong Dat

Coin98 has a founding team and core members who are all Vietnamese. This is one of the most prominent Blockchain projects of Vietnamese people, following previously famous names such as Kyber Network, TomoChain or Axie Infinity. Prior to Coin98, Kyber Network, TomoChain, and Axie Infinity were listed on Coinbase.

In August 2021, Coin98 was surprised when the total market capitalization of C98 tokens reached 1.13 billion USD. Coin98 is also one of several Vietnamese startups with a market capitalization exceeding the 1 billion USD mark.

When it comes to the notable milestones of this startup, in April 2021, Coin98 Labs completed the seed round, raising 1.25 million USD from investment funds like ParaFi Capital, Multicoin Capital, Hashed and Spartan Group.

Just a short time later, Coin98 continued to raise 4 million USD from Alameda Research.

At the moment, the price of a C98 token is trading at 1.4 USD. At this price, the total capitalization of this startup reaches 264 million USD. Compared to the opening price of the private sale, the price of the C98 token has increased dozens of times.

If it is listed on Coinbase, this will open a new development for Coin98 because it will get new investment from the US market.

Trong Dat

MORE NEWS

After failed deal with MobiFone, AVG finds new owner

AVG has changed hands, but it has not made an official announcement about the deal.

Hue's Dong Ba Market revamped to lure tourists

Returning to Thua Thien Hue after over two years of lockdown, Luu Hoang Long and his wife, a Vietnamese Australian, chose first to visit Dong Ba Market, the biggest traditional local shopping centre in the ancient royal city of Hue.

Retail giants to sell low-cost products

With powerful financial resources, big retailers are organizing retail chains that sell a wide variety of lower priced goods.

Five directions for internet development in Vietnam

Deputy Minister of Information and Communications Pham Duc Long pointed out five major directions for internet development with an aim of creating a safe, modern and humanitarian digital society at the VNNIC Internet Conference 2022 last week.

Vietnam proposes to issue ID cards to people without Vietnamese nationality

Non-Vietnamese nationals living in Vietnam will likely be granted an electronic identification account to perform public administrative procedures.

VN, Hungary’s parliaments sign new cooperation agreement

A new cooperation agreement between Vietnam and Hungary’s national assemblies was assigned by National Assembly (NA) Chairman Vuong Dinh Hue and his Hungarian counterpart László Kövér in Budapest on Monday.

Australia pledges to continue fostering strategic partnership with Vietnam

Australian Foreign Minister Penny Wong has affirmed that her nation always attaches importance to Vietnam's role in the region, and pledges to continue strengthening its strategic partnership with the Southeast Asian nation.

Ben Tre coconut-based dishes set World Record

The World Records Union (WorldKings) and the Vietnam Records Organisation (Vietkings) on June 27 recognised the 222 coconut-based dishes cooked at an event held in the Mekong Delta province of Ben Tre.

Health Ministry yet to consider COVID-19 endemic disease

The Ministry of Health has proposed considering COVID-19 a Group A infectious disease, not an endemic disease in its latest draft on COVID-19 prevention and control measures in the new situation.

E-commerce enabler OnPoint raises $50 million from Singapore fund

OnPoint has successfully raised $50 million in a series B fund-raising round from SeaTown Private Capital Master Fund managed by SeaTown Holdings International, an indirect wholly-owned subsidiary of Singapore’s Temasek Holdings.

SARS-CoV-2 Omicron sub-lineage BA.5 enters Vietnam

The SARS-CoV-2 Omicron sub-lineage BA.5 has entered Vietnam and may overwhelm the old sub-lineage BA.2 which is dominant in the country, according to Prof. Dr. Phan Trong Lan, Director of the Health Ministry’s Department of Preventive Medicine.

HCM City promises to ease problems faced by Korean investors

The chairman of the Korean Chamber of Commerce and Industry in Vietnam, Shon Young Il, has called on HCM City authorities to help Korean firms resolve difficulties they face in investing and operating in the city.

VIETNAM NEWS HEADLINES JUNE 27

Newly-appeared low pressure zone in East Sea may develop into storm

VIETNAM BUSINESS NEWS JUNE 27

Vietnam’s exports to Hungary on the rise

Football star to join France's Pau FC

Vietnam’s football star Nguyen Quang Hai will play for Pau FC in Ligue 2, France’s second division.
back_to_top