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Highlights
- Coinbase, one of the prominent crypto exchanges across the world, has recently announced the acquisition of Unbound Security, an Israeli company.
- Prior to this, Coinbase had acquired several other cryptographic and AI-based companies to strengthen its offerings to its clients.
- Moreover, the exchange aims to grow its presence across the world by tapping some of the best and brightest minds in the said field.
The largest cryptocurrency exchange across the globe, Coinbase Global, Inc. (NASDAQ:COIN) , is currently on an acquisition spree. Among the many companies it has acquired of late, one of its major acquisitions includes the purchase of Israel-based Unbound Security, a cryptography company.
Source: Copyright © 2021 Kalkine Media
What is so unique about this Israeli company?
Last week, Coinbase revealed the acquisition of Unbound Security, a pioneer in developing cryptographic security technologies.
The Company boasts having expertise in MPC, i.e., multi-party computation, which would be instrumental for Coinbase’s product and security roadmap.
How is Coinbase expanding its business in different geographies?
Based in Israel’s Petah Tikva, Unbound Security would pave the way for the establishment of Coinbase’s foothold in the country.
Boasting a rapidly growing technology hub, Israel has some of the most prominent cryptographic experts, thus greatly benefitting the world’s leading cryptocurrency exchange.
Must Read: Is Coinbase available in New Zealand? Is Coinbase safe?
A look into Coinbase’s recent additions this year
Earlier this year in January, Coinbase had acquired Brooklyn-based Bison Trails, a company that concentrates on developing blockchain infrastructure for banks and other firms for about US$80 million.
Do Read: Coinbase to launch NFT platform, here’s what to expect
In April 2021, the crypto exchange giant took over Skew, a U.K-based data analytics firm focusing on crypto markets. This would strengthen the exchange's services for institutional clients by offering them real-time data analytics.
Further, the cryptocurrency exchange's acquisition appetite did not end here. It went on to acquire Zabo in August 2021, a start-up that provides insights to financial firms on their crypto investments.
Further, it has taken control of Agara, an AI-powered customer support platform, which started in India and now has operations across the US as well.
Bottom Line
Setting an ambitious target of becoming the cryptocurrency equivalent of Amazon Web Services (AWS), by offering an array of crypto computing services so as to help developers create faster applications, Coinbase aims to capture the crypto market by following rigorous growth and acquisitional strategy.
