Coinbase, the world’s largest bitcoin exchange, is expected to launch its own cryptocurrency next week, a move that could pave the way for a wider expansion of the crypto currency into the payment world.

The San Francisco-based company, which is currently valued at about $50 billion, said it plans to launch a digital currency called “Coinbase Gold” later this year.

This will allow users to buy goods and services on its website, and it will be able to convert fiat currency to bitcoin and vice versa, a feature that Coinbase hopes will lead to a significant boost in its merchant base.

The company has said that it intends to open stores in China, and has raised more than $3.5 million in funding.

The company’s founder and CEO Brian Armstrong said the company is looking for a way to “give people value in the digital world.”

“Bitcoin has been the gold standard for a long time,” he told Fortune.

“We want to create a platform for the future.”

In a statement, Coinbase CEO Adam Draper said that the new coin will allow the company to grow its customer base and that its technology will be used to help make payment systems like Stripe more scalable.

“We see this as a great opportunity for us to bring our technology and expertise to the payment ecosystem,” Draper said.

“Coinbase’s approach to crypto is not to reinvent the wheel, but to help companies of all sizes build their digital payment business models.”

Coinbase has made significant strides in its digital payments platform, which began accepting Bitcoin and Litecoin in July.

Draper said in August that the company had made $100 million in revenue on its platform, and said that its merchants and customers would use the new currency to pay for goods and service.

“The growth in bitcoin has been phenomenal,” he said at the time.

“This is not a one-time thing.

We are excited to see the number of merchants that accept bitcoin grow, and we hope to see more merchants join us.”

Draper said that CoinBase would also be interested in working with third-party merchants to add new payment options to its platform.