Coinbase Acquires Cryptographic Security Firm Unbound for Undisclosed Sum
As part of the acquisition, Coinbase will also establish a presence in Unbound’s native Israel.
Nov 30, 2021 at 2:36 p.m. UTCUpdated May 11, 2023 at 6:02 p.m. UTC
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Crypto exchange Coinbase has acquired cryptographic security company Unbound Security to expand its multi-party computational (MPC) capabilities.
- Coinbase considers Unbound Security to be a pioneer in MPC, a subset of cryptography that allows multiple parties to evaluate a computation without any of them revealing their own private data.
- With the acquisition, Coinbase will also establish a presence in Unbound’s native Israel, according to a blog post Tuesday.
- Financial terms of the acquisition were not disclosed. Coinbase did not immediately respond to CoinDesk’s request for comment.
- “Secure multi-party computation is an application of advanced mathematics to enable crypto assets to be stored, transferred and deployed more securely, easily and flexibly than ever before,” Coinbase wrote in its blog post.
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Jamie Crawley is a CoinDesk news reporter based in London.