Crypto is coming after political funding. And it’s being developed on top of the blockchain built by the largest crypto exchange in the United States of America.
What’s happening:
- Public Benefit Corporation Engage Labs has launched a new technology platform which enables individuals to donate crypto to political campaigns in the United States
- The new platform is built on top of Coinbase’s (NASDAQ: COIN) layer two Ethereum blockchain Base
Why it matters:
- This is one of the first ever projects to launch which is focused on regulated and fully compliant donations of crypto to political campaigns in the United States, something which has previously been impossible
Going deeper:
- Coinbase is not directly affiliated with Engage Labs, however they are operating the backend payment technology which facilities crypto donations being converted to fiat and sent to the official campaigns of political candidates who are fundraising
By the numbers:
- Individuals can choose between 240 different digital assets to donate to politicians
The intrigue:
- Engage Labs's new platform which is known as Support Crypto does not have any profit incentive and is not aligned with any political party or individual candidate
