Coinbase, the largest crypto platform in the United States, has announced a partnership with UnitedMasters, an American music distributor, to offer their artists the choice of receiving crypto payments for the music they create.
According to the Coinbase blog post, UnitedMasters believes the partnership will financially strengthen the creators behind the music and decentralize the economy to the music industry.
This development follows Coinbase’s recent announcement to allow its customers to deposit their paycheck into Coinbase for easy and regular crypto transactions,
What they say
The publication stated: “UnitedMasters will offer its artists full control over their income, giving them the freedom and flexibility to be paid, in whole or in part, in US dollars or a cryptocurrency of their own. choice. Artists can also take advantage of the full set of Coinbase’s product offerings, including spending, earning, trading, and borrowing, to help them do more with their crypto.
UnitedMasters CEO Steve Stoute said this about the partnership. “Working with Coinbase to give independent artists the opportunity to get paid in crypto is a natural next step for us, using technology to ensure that the music industry economy favors the creators behind it. As the financial industry continues to evolve and innovate, we are committed to putting our artists in the best position to benefit from these changes.
Surojit Chatterjee, Chief Product Officer of Coinbase said: âCoinbase’s mission is to increase economic freedom around the world, and we applaud UnitedMasters’ efforts to level the playing field for their community of music artists. We want to make it easy for every business to pay its employees by crypto. It’s the future of payroll.
The UnitedMasters publication concluded by saying: âAfter receiving their payment in a number of cryptocurrencies, independent artists can then use Coinbase’s financial resources to spend, earn, trade, or borrow. If you are an artist looking to get paid in crypto for your work while retaining independence and ownership, UnitedMasters is the place for you. Because at the grassroots level, we strive to empower artists by continuing to develop tools, resources and a wealth of information as we advocate for a change in the music industry in favor of the independent creator.
COIN is trading at $ 249.33, down 2.80% at the time of this release.