Brian Armstrong, CEO of Coinbase, announced today that the company has officially been whitelisted for advertising on Facebook, marking a major step forward for the company’s user acquisition strategy.
This news comes on the back of Facebook’s (FB) earlier announcement that it has reversed its January decision to ban advertisements related to cryptocurrencies and other digital assets on its platform.
In that announcement, Facebook stated that starting on June 26, the company would allow ads that promote “cryptocurrency and related content from pre-approved advertisers,” but still plans on prohibiting initial coin offering (ICO) and binary option ads.
It’s been a big month for Coinbase, which recently announced that it is currently exploring adding five new cryptocurrencies to its trading products, including Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC) and 0x (ZRX).
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Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.