Today marks a very special day for us, as we announce that Coinbase Ventures is participating in Airtm’s latest round of financing. The investment validates our efforts over the past four years and demonstrates that Silicon Valley stands in support of financial freedom, while recognizing the need for better quality financial services in the developing world.
Airtm leverages technology to bring first class financial infrastructure for the hundreds of millions of people in emerging markets, enabling them to make financial decisions more freely — no matter what restrictions they may face with their traditional domestic financial system.
Our strategic focus on Venezuela has proven that the peer — to — peer system that our team developed is resistant to any type of scenario, and replicable anywhere in the world.
As they say, if it works in Venezuela, it works anywhere ;).
The earliest Airtm users know that we have spent the past four years working almost exclusively in Venezuela. This gives meaning to those who work in Airtm, because we all know that people depend on us to survive the crisis. Because of this, we sometimes work on projects that are unrelated to our core business objectives. Airdrop Venezuela is an example of this, as we launched the campaign to bring the benefits of cryptocurrencies to the people who need it the most.
Those who are technologically savvy know that if everyone learns how to use cryptocurrencies, many economic problems that we have today would no longer exist. At least 8 out of 10 Venezuelans would no longer need to depend on the Bolivar to preserve the value of their wealth. They would be able to buy goods and services, as well as receive and send value, with more autonomy and fewer restrictions.
Even though cryptocurrencies could benefit many, we know that for many Venezuelans getting started is a risky endeavor. Because of this, we decided to make Airtm a channel to safely raise and distribute $10 in cryptocurrency donations to 100,000 Venezuelans.
While Coinbase Venture’s decision to invest in Airtm was based on much more than our passion for spreading cryptocurrency adoption throughout the developing world, we believe that our Airdrop Venezuela campaign factored into their final decision.
If you are an Airtm user, we encourage you to take a look at Coinbase’s mission statement, which is very much aligned with Airtm’s.
Coinbase has been leading the charge for crypto adoption since it was founded in 2012, and it is an honor to call them our partners. We share the mission of bringing better, more reliable, fairer, and higher quality financial services to people and businesses all over the world together.
Thank you Coinbase Ventures for supporting Airtm, and thanks to our many users for helping us get here. And soon, to the moon.