Coinbase hits 1 million consumer wallets

Posted Feb 27, 2014

Coinbase has announced today that over 1 million consumer Bitcoin wallets were created through their platform. Coinbase started in 2013 with under 13,000 wallets. Coinbase has raised around $30 million in funding from investors like Alexis Ohanian, Y Combinator, Greg Kidd, Garry Tan, FundersClub, Union Square Ventures, SV Angel, Andreessen Horowitz, and Ribbit Capital.

Coinbase’s growth news comes on the heels of the Mt. Gox implosion. Around 25,000 businesses are using Coinbase for accepting Bitcoin for customer payment and 4,000 apps have been created through their company API.

“With this milestone, we?ve also taken the opportunity to reflect on the events that have surrounded the Bitcoin community over the past few weeks, and clearly see that there is still work to be done.  We are fully committed to helping continue to bring the stability and confidence required to help ensure Bitcoin is as useful as possible for consumers, merchants and developers alike,” said Coinbase in a blog post.