Cryptocurrency alternate Coinbase (COIN) has acquired LiquiFi, a token administration platform utilized by the likes of the Uniswap Basis, OP Labs (Optimism) and Ethena.
Whereas the phrases of the deal stay undisclosed, Coinbase stated in a weblog put up that the acquisition will make it simpler for crypto start-ups to construct on-chain.
LiquiFi is utilized by start-ups to handle features like crew token possession, vesting schedules and compliance workflow.
Coinbase’s rival, Binance, not too long ago rolled out an Alpha platform that options token launches and token incubation. It is unclear whether or not Coinbase will observe Binance down this route however it did say within the weblog put up that it needs to “take away the boundaries” for start-ups by offering each the product to make token launches easy.
The acquisition follows a gradual stream of M&A exercise in crypto in latest weeks; in Could DEX aggregator 0x acquired its competitor Flood and in the identical week David Bailey’s Nakamoto Holdings went public through a merger with KindlyMD.
COIN shares rose 1% in pre-market buying and selling following the announcement.
