Coinbase, the largest digital assets exchange in the United States, will pursue its plan to acquire Zabo, a crypto data aggregator.
Zabo is an application programming interface (API) for connecting any digital asset exchange, wallet, account, or protocol. It also has the capability to allow crypto users to share crucial data such as deposit addresses, transaction histories, and balances.
Zabo confirmed that it is set to join Coinbase, but didn’t give any specifics about the deal and the amount paid for the acquisition.
Very excited
Christopher Brown and Alex Treece, Zabo co-founders said: “We are very excited to join Coinbase, which has done more than perhaps any other company in advancing the mission of bringing cryptocurrency mainstream.”
The two co-founders said that merging the capabilities of the two crypto companies would be beneficial for their customers because of the increased financial freedom it will provide.
Both of them hope that the combined crypto experiences of Coinbase and Zabo can benefit billions of people all over the world. Also, the deal would certainly put Coinbase in a stronger position to compete in the highly-stacked crypto industry.
A terrific year for Coinbase
This year, Coinbase has achieved a milestone by becoming the first major trading venue to have its shares publicly traded.
Nasdaq said that Coinbase’s (COIN) opening price was $381, which is higher than the initial reference price of $250. Coinbase also announced that it plans to raise $1.25 billion to fast-track its growth after its share price has started experiencing a slide.
In addition, Coinbase also said the offering would be private, and only those who complied with Rule 144A promulgated under the Securities Act of 1993 can participate in the offering.
Image courtesy of Cointelegraph News/YouTube
Source: https://bitcoinerx.com/blockchain/coinbase-will-acquire-crypto-data-aggregator-zabo/
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