Coinbase, a San Francisco, CA-based a digital currency exchange company, acquired Routefire, a provider of execution services and trading technology in cryptocurrencies.
The amount of the deal was not disclosed.
Led by Jason Victor, CEO, Routefire was a premier provider of execution services and trading technology in cryptocurrencies.
The company, which was based in San Francisco, as well, was started in late 2017 to solve the reliability issue exchanges had. The company developed a sophisticated execution suite in crypto, with eight algorithmic order types and connectivity to virtually all sources of potential liquidity.
According to a post by Victor, the team will now be discontinuing its services with the team joining Coinbase to continue developing execution services for digital assets.
They will no longer be supporting the Routefire platform and will help develop Coinbase’s suite of institutional products.
Led by Brian Armstrong, Chief Executive Officer, Coinbase is one of the main crypto exchanges which enables more than 35 million people in over 100 countries to buy, sell, store, use and earn cryptocurrency. The company has also raised over $500M+ in total funding from world’s leading investors.