Coinbase Joins Major Firms to Launch UK Web3 Accelerator Program

In a significant move to bolster innovation in the UK’s blockchain and AI sectors, Founders Factory, Coinbase, Fabric Ventures, and Animoca Brands have collaborated to launch a Web3 accelerator program. This initiative aims to support startups with funding and operational guidance, marking a pivotal step in the decentralized economy’s growth.

Major Crypto Firms Launch UK Web3 Accelerator Program

Founders Factory, Coinbase, Fabric Ventures, and Animoca Brands have partnered to establish a web3 accelerator aimed at fostering innovation in the UK’s blockchain and AI sectors. Selected startups will receive up to £250,000 ($333,470) in funding alongside 16 weeks of operational support.

The program welcomes applications from businesses operating across all sectors of the decentralized economy, with Founders Factory providing hands-on mentorship. Training will cover critical areas including business strategy, product development, and go-to-market execution.

Coinbase Launches Bitcoin Yield Fund for Institutions

Coinbase Asset Management is introducing the Coinbase Bitcoin Yield Fund on May 1, targeting institutional investors outside the U.S. The fund aims to deliver an annual net yield of 4%-8%, with returns distributed in Bitcoin.

A basis trading strategy between spot and perpetual futures markets underpins the fund’s approach. Aspen Digital has committed as a seed investor, signaling robust institutional demand for Bitcoin-based yield products.