Coinbase, a publicly traded crypto-asset trading platform, has announced that it has purchased Unbound Security in Israel. The announcement follows Coinbase acquiring the cryptocurrency wallet BRD last week and the Unbound acquisition is aimed at the company’s “commitment to providing the safest, most secure, and most trusted venue for anyone to interact with the [crypto economy].”
Coinbase Purchases Unbound Security Company from Israel
Since Coinbase’s public listing (Nasdaq : COIN), the company has bought a variety of small businesses. The company had previously acquired Bison Trails. On April 30, Skew, a crypto-focused data analysis company, was revealed to be purchased by Coinbase. Zabo was also purchased by the publicly traded crypto asset exchange in August. Coinbase then acquired Agara during the first week November. Two more Coinbase acquisitions were made in the past week.
Coinbase has announced that it acquired Unbound Security on Tuesday. Unbound Security is a multi-party computing technology firm. Coinbase asserts that Unbound’s multi-party computation technology “will play a foundational role in Coinbase’s product and security roadmap.” The move will also increase Coinbase’s presence in Israel, the crypto exchange highlights. Coinbase says that it believes Israel is “a hotbed of strong technology and cryptography talent.”
Furthermore, Coinbase plans to “establish a tech center of excellence in Israel that will ensure that Coinbase is always at the bleeding edge of security and blockchain technology.” The company stresses that it will gain insights from some of the most prominent cryptographic experts.
“With this acquisition, Coinbase not only gains access to some of the world’s most sophisticated cryptographic security experts, including Unbound Security co-founder and current vice president of Research and Development, Guy Peer, who brings more than 20 years of experience in cryptographic security, but also a presence in Israel, a well-established and rapidly growing technology hub,” Coinbase added.
Coinbase Buys BRD Wallet from Coinbase Last Week, Unknown Price
Coinbase purchased the open-source BRD wallet six days prior to the Unbound Security acquisition announcement. Adam Traidman BRD’s co-founder and CEO explained that BRD grew to a community of 10 million customers since its inception in 2014. “We would like to share the news that members of our team will be continuing our mission at Coinbase, where we will work together to bring the power of decentralization to even more users around the globe,” Traidman wrote to BRD users on November 24.
Traidman further added that “nothing will change in the BRD wallet app” but in the future, BRD wallet users “will have an optional migration path to self custody with Coinbase Wallet.” Moreover, the BRD users that migrate will get a “special gift” and Traidman added that BRD users should stay tuned in 2022. The native token tied to the BRD community, bread (BRD), saw the coin’s value swell by more than 500% this past week and is still up 460% at the time of writing.
Let us know your thoughts on Coinbase’s recent acquisition of Unbound Security. Please comment below to let us know your thoughts on this topic.
Images CreditsShutterstock. Pixabay. Wiki Commons. Coinbase.
DisclaimerInformational: This article is not intended to be a solicitation or offer to sell or buy any product, service, or company. Bitcoin.com is not a provider of investment, tax, legal or accounting advice. The author and the company are not responsible for any loss or damage caused or alleged caused by the content or use of any goods, services, or information mentioned in the article.