Coinbase, the US-based cryptocurrency exchange, has made another strategic acquisition – this time in the critical area of blockchain infrastructure.
The company announced Tuesday that it had acquired Bison Trails, a fully managed blockchain infrastructure provider, in a deal that provides a “fundamental element” to its growing ecosystem of products.
“By joining forces, we want to bring the advanced technology that the Bison Trails team has developed – and continues to develop – to more projects and more companies around the world.”
Bison Trails will continue to operate as a standalone product, Coinbase said.
Founded in 2018, Bison Trails has built a strong reputation in the blockchain industry. Last November, Bison Trails launched its QT protocol allowing developers to build on Facebook’s upcoming Libra blockchain. The company also pioneered new technology that tackles so-called slashing sanctions associated with message double signing, which is considered one of the biggest risks of blockchain participation.
Joe Lallouz, CEO of Bison Trails, tells Cointelegraph that he and co-founder Aaron Henshaw officially unveiled their company to the world in March 2019. At the time, Bison Trails was marketed as the first ‘infrastructure as a service company designed for blockchain network generation. “
“It is remarkable to look back at that announcement post and recognize how little of our approach has changed since then, despite the rapid growth and evolution of the ecosystem,” he said.
He went on:
“We are incredibly excited to join Coinbase as a standalone product line in the Coinbase portfolio, an anchor of Coinbase’s third pillar of crypto developer tools services and the advancement of ecosystems.”
As for Coinbase, the leading crypto exchange has consolidated its already strong position in the industry for one expected IPO later this year. As Cointelegraph reported earlier this month, Coinbase has recently acquired the Routefire platform – a move that could significantly boost trade execution and help protect against serious outages during periods of volatility.
Coinbase has more than 35 million verified users in more than 100 countries. The company has reported cumulative trading volumes in excess of $ 320 billion, providing further confirmation that the digital asset markets will remain.