Coinbase has named Wavemaker its media agency of record as the multibillion dollar cryptocurrency exchange and trading platform seeks to reach new users.
The appointment comes after a nearly two-month review that involved three or four other agencies, according to people familiar with the matter. It also comes a month after Coinbase—which lets users buy and sell cryptocurrencies like bitcoin, ethereum, litecoin and others—selected The Martin Agency as its creative agency of record to scale the brand and build consumer trust in cryptocurrency.
WPP GroupM’s Wavemaker, which describes itself as a “growth focused agency” will focus on propelling its first crypto client into popular culture through planning, buying and activation of media, sponsorships and content, much of which will educate the consumers on the possibilities of cryptocurrencies.
“Cryptocurrency is still new for most, so there’s great opportunity to drive awareness and understanding to propel Coinbase forward as a key pillar of the global financial system, akin to familiar names in the traditional banking and finance sector,” says Brad Backenstose, executive director and client lead at Wavemaker. “It’s also a very ambitious company with huge growth goals, so we must fuel continued platform growth with new users.”