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Coinbase acquires buying and selling execution platform Routefire

01/08/2021

The trade seeks to enhance its Prime suite of brokerage instruments for establishments.

Main cryptocurrency trade Coinbase has acquired the Routefire platform for enhanced commerce execution.

In a Jan. 7 weblog submit, Routefire CEO Jason Victor introduced that the staff would now be creating its execution providers for Coinbase, whereas thanking customers for his or her assist during the last three years.

Routefire began in late 2017, with a mission to boost buying and selling infrastructure within the crypto market. They developed merchandise that permit merchants to robotically search a number of sources of liquidity to seek out probably the most favorable charges on each worth and charges.

Following the transfer, the Routefire staff will likely be creating the Coinbase Prime suite of instruments and providers. That is aimed toward being the premier brokerage platform for monetary establishments who want to commerce within the cryptocurrency house.

Coinbase has suffered a number of outages over the previous 12 months, typically coinciding with unstable buying and selling days for Bitcoin, angering merchants who misplaced out on potential income. The acquisition of Routefire and its commerce execution experience may go some option to restoring confidence on this regard.

On the finish of final yr, Coinbase filed a registration for an preliminary public providing with the USA Securities and Trade Fee. The transfer was seen by many to be an extra signal of the rising legitimacy of the cryptocurrency market.