Cryptocurrency exchange operator Coinbase has named The Martin Agency as its creative agency of record in the U.S., the firm said on Wednesday.
The Martin Agency will work to introduce the Coinbase brand to a wide audience both familiar and unfamiliar with cryptocurrency and to educate people about cryptocurrency as a viable financial tool.
Martin’s remit includes brand strategy, creative development, experiential and social activations.
The Martin Agency was part of a competitive pitch that included “a handful of agencies,” the firm’s SVP and director of new business, Taylor Grimes, said. Coinbased launched the review in January and completed it in March. There were no incumbents.
The account will be led by Stephanie Jones, VP account director at The Martin Agency.
“The current financial system continues to tilt the playing field in its own favor, leaving many people behind,” Kristen Cavallo, CEO of Martin Agency said in a statement. “This is about making finance accessible for the many, not the few. That’s a mission worth fighting for.”
Coinbase is the largest cryptocurrency platform in the U.S. with more than 56 million users, $223 billion of assets and $335 billion of quarterly volume traded. It has expanded to reach more than 100 countries and went public earlier this year, backed by investors including Andreessen Horowitz, Mitsubishi UFJ Financial Group and Y Combinator. Coinbase is valued at $52.5 billion.
Cryptocurrency is growing as an accepted currency, with large banks including BlackRock, JPMorgan and Morgan Stanley offering cryptocurrency to its clients. Still, there is a lack of understanding among the general public about what cryptocurrency is and how it works, with a recent survey from Cardify finding that one in three crypto investors know little to nothing about how it works.