A California-based ecommerce company that was trying to grow its business using bitcoin is looking to apply for a business license for its bitcoin-based business, according to Axios.
The business is called Coinbase, and it operates a bitcoin payment processor called Coinsetter.
According to Axi, Coinbase is a “bitcoin-based, blockchain-based financial technology platform,” and it has been providing a wide range of services including “ecommerce, payments, and blockchain technologies for the last year.”
According to Coinbase, it was only recently that it decided to go digital, and its customers have been using the platform since the beginning.
The company, founded in 2017, says it has over 2 million active merchants in over 80 countries.
The startup, which is headquartered in San Francisco, is now offering the service through its own website.
Coinbase has been licensed to sell bitcoin as a payment method for a few years, but it has yet to launch a bitcoin-enabled marketplace.
Coinbase was previously able to sell goods using bitcoin in Europe.
In 2017, Coinbase was awarded a $5 million investment by a California-led group called Innovate California, which aims to accelerate the state’s adoption of blockchain technologies, and help startups like Coinbase get off the ground.
Coin, Coinbase, Coinsetter and their partner were founded by bitcoin entrepreneurs Gavin Andresen and Mike Hearn, who both have experience in cryptocurrency.
The startup is looking for a licensed business license to operate as a bitcoin processor for its online store, according the Axios report.