Dallas-based cryptocurrency aggregator service Zabo is currently being acquired by popular crypto exchange Coinbase, Zabo said in a blog post on 4 August.
While details of the deal were not provided, Coinbase has already started the process of acquiring Zabo, which provides data integration services to major wallets and exchanges. Founded in 2018, Zabo’s API integration already includes more than 50 crypto exchanges and wallet services, including Ledger, Kraken, BitGo, FTX, and others. Zabo’s co-founder Alex Treece said in the blog post:
“Over the last three years, with the help of our amazing team, customers, investors and partners, we succeeded in establishing the Zabo API as the world’s most powerful tool for connecting to any crypto exchange, wallet, protocol or account.”
Last year, Zabo raised $2.5 million in a funding round, which allowed it to expand its portfolio of services, and add new partners, and expand its human human resources. Leading the funding rounds was Moonshots Capital, with Digital Currency Group, CoinShares, and Tezos Foundation also participating.
Zabo is just the latest crypto startup that has attracted the attention of the NASDAQ-listed Coinbase. The exchange has been expanding its influence in the crypto space this year, and has either acquired, agreed to acquire, or entered acquisition talks with a number of companies in the sector. Since the start of the year, Coinbase has already acquired trade execution startup Routefire, infrastructure platform Bison Trails, and blockchain data analytics platform Skew.