Coinbase, a large US-based crypto exchange, has acquired trade execution startup Routefire.
The terms of the deal were not disclosed. It is Coinbase’s first acquisition of 2021. The website of the San Francisco-based Routefire shows a team of seven led by CEO Jason Victor. In 2020, Coinbase’s acquisition of crypto prime broker Tagomi helped the exchange execute large Bitcoin buys for MicroStrategy, One River Digital, and potentially others.
As institutional interest in Bitcoin as ‘digital gold’ continues to ramp up, other firms might seek to strengthen their prime brokerage offerings. According to CoinDesk, prime brokerage refers to a suite of services tailored to the needs of deep-pocketed investors.
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