On Wednesday, Coinbase CEO Brian Armstrong revealed that Coinbase was finally allowed to run ads on Facebook.
He also shared his excitement on Twitter:
Facebook banned advertising virtual currency earlier this year, we are proud to announce that Coinbase has been included in the white paper by Facebook to introduce users to the open financial system.
Coinbase is the first virtual money company allowed by Facebook to run ads, becoming one of the most well-known virtual money platforms in the Crypto market.
Many argue that Brian Armstrong will take advantage of this pioneering advantage to promote recently released products like Coinbase Pro, Coinbase Index Fund and Coinbase Custody.
Last year, when the electronic money market began to explode with hundreds of money companies promoting their products through social networks.
However, the spread of scam projects and the ignorance of users has raised concerns about forcing top companies such as Google, Twitter and Facebook to issue ad blocking orders to real companies. Current form of calling capital via Crypto (ICO)
Recently on June 26, 2018, Facebook decided to cancel the ban on electronic money and became the first social network to lift the ban after 6 months.
Under the new law, Facebook will deploy a new system to ensure only trusted companies can run advertising campaigns in accordance with their policies. Advertisers will be required to obtain licenses and certificates related to the products they advertise so that users avoid scam.
It is important to note that ICO projects and binary trading ads are still prohibited to protect users.
A new potential for wide application
Facebook modifications related to electronic money advertising may have great potential in creating a new round of acceptance for both cryptocurrencies and Blockchain projects.
According to statistics companies, Facebook is currently the largest social network with more than two billion users every month, so this information is very positive for Coinbase in particular and the Crypto community in general.
Coinbase will likely allocate a significant amount of money to their Facebook advertising campaigns in order to find and reach millions of new consumers in the electronic money industry.