Coinbase Ventures Backs Privy's Web3 Privacy Solution

IconCryptoNewsTerminal Staff16 Jul, 2024

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Coinbase Ventures Backs Privy's Web3 Privacy Solution

Coinbase Ventures, the investment arm of leading cryptocurrency exchange Coinbase, has made a strategic investment in Privy, a provider of privacy solutions for Web3. The investment amount was not disclosed. Privy's technology aims to address the growing need for privacy in the decentralized web landscape. Its privacy-preserving protocols enable users to control and protect their data while interacting with Web3 applications and services. This investment highlights the growing demand for privacy solutions as Web3 adoption expands. By partnering with Coinbase Ventures, Privy gains access to expertise and resources to further develop and scale its privacy offerings.