Coinbase acquires Blockspring for financial system

Monday 21 January 2019 09:44 CET | News

Coinbase has made its first acquisition for 2019, announcing on 17 January it purchased Blockspring, a California-based data collection startup.

Even though the startup will remain operating as an independent company, under the Coinbase umbrella, the company should see its expansion hopes rise with the extra liquidity its new parent company will offer. The partnership is meant to establish an open financial system and an engineering team.

The acquisition of Blockspring came after Coinbase took on some expansion activities. As such, between April and August 2018 the exchange acquired, trading platform Paradex, Keystone Capital Corp, and digital identity startup Distributed Systems. At the end of 2018 the company announced the intention to support 31 additional currencies, and Blockspring will help Coinbase expand its developer tools.

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Keywords: Coinbase, Blockspring, financial system, startup, trading, acquisition, digital identity, data collection, California
Countries: World