Leading U.S. crypto exchange Coinbase has acquired trade execution startup Routefire. The terms of the deal were not disclosed.
"While we'll no longer be supporting the Routefire platform, we are very excited to continue on our mission of bringing advanced trading infrastructure to the rapidly developing cryptocurrency markets by joining Coinbase," Routefire wrote in a blog post Thursday, adding:
A Coinbase spokesman confirmed the deal but declined to comment.
It is Coinbase's first acquisition of the new year, albeit likely a small one. The website of the San Francisco-based Routefire shows a team of seven led by CEO Jason Victor.
As institutional interest in bitcoin as "digital gold" continues to ramp up, other firms have sought to strengthen their prime brokerage offerings. Prime brokerage refers to a suite of services tailored to the needs of deep-pocketed investors.
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