Coinbase, the leading US-based cryptocurrency exchange, is on a growth spree as the company plans to go public.
The exchange announced that it is acquiring Bison Trails in one of its largest acquisition deals till now.
Coinbase Procures Blockchain Infrastructure Company Bison Trails
Coinbase is reportedly going public soon as the exchange announced in December 202o that it has filed for public offering. Coinbase announced acquiring Bison Trails to strengthen its crypto offerings and emerge as a comprehensive solution for the crypto traders for all their crypto trading needs. As Coinbase strives to become a leading crypto services platform, it has spurred on a flurry of acquisitions to enhance its portfolio. As per the report from Fortune, the deal is above $80 Million. Recently Coinbase acquired Tagomi, a leading brokerage firm, for over $80 million in an all-stock deal.
Coinbase said that it is committed to present high-end infrastructure to the crypto community as per the official blog. Referring to Bison Trails as an “early pioneer in fully managed blockchain infrastructure,” Coinbase said that Bison Trail’s easy-to-use platform, would act as a catalyst to speed up the adoption of blockchain across the world.
Joe Callous, the CEO of Bison Trail, noted, “We are incredibly excited to join Coinbase as a standalone product line in the Coinbase portfolio.” He added that the company would act as an anchor of exchange’s offering for developer tools and ecosystem advancement.
As per the official blog, the Bison Trail acquisition would help in driving the greatest innovations of the finance sector and foster the exchange towards its mission of creating an open financial system.
Bison trails is a leading blockchain infrastructure platform that offers services to leading banks and financial firms. The company was founded in 2018 and, to date, has raised more than $31 million for Coinbase ventures and other investors. Bison Trails has around 200 customers that include banking firms, fintech, and exchanges. After the merger, Bison trails would continue building its various solutions and offerings within the Coinbase ecosystem. And gradually, Coinbase would extend additional infrastructure and API services to power Coinbase products.
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