It seems that Facebook is relaxing its ban on virtual currency companies. This time, the CEO of Coinbase, Brian Armstrong, announced that the platform has been approved to display ads on Facebook.
The news was announced by Coinbase CEO, Brian Armstrong through a tweet on 20th July 2018. The CEO expressed his pride and excitement for his platform that promotes an “Open Financial System”.
Brian Armstrong commented on Twitter:
“Facebook banned ads for crypto earlier this year. Proud to say we’ve now been whitelisted and are back introducing more people to an open financial system.”
On June the 20th, Facebook announced that it was going to reverse its ban on cryptos after six months. And indeed, Coinbase has been one of the first companies benefited by this decision.
Over 2 billion users are connected to Facebook, giving Coinbase an advantage over its competitors. This decision has come at a time where Coinbase is already under the process of expansion. They plan to add more cryptos to the existing database.
The company has also started promotion of Coinbase Index Fund and Coinbase Custody platform that are geared towards institutional investments.
It can be taken for granted that Coinbase will have an aggressive campaign in Facebook to attract new consumers that are searching new ways to enter the crypto and blockchain space and get prepared for the next bull run.