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.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.