Coinbase to Acquire Zabo for Undisclosed Amount
- Established back in 2018, Zabo has already expanded its API integrations to include more than 50 crypto exchanges and wallet services.
- The crypto aggregator service is the latest acquisition of Coinbase, which has already bought several crypto startups since the start of the year, including Routefire, Bison Trails, and Skew.
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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.
- A little over $13 million in altcoins were sent to crypto exchanges Binance and Coinbase in the past 24 hours, which is in accordance with a September court order.
- The court ordered a phased liquidation process, which allows the bankruptcy estate to sell $3.4 billion worth of digital assets over a certain period of time.
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- Coinbase’s Base blockchain was made available to the public on Wednesday, featuring over 100 dApps and services as part of its ecosystem.
- In order to show its capabilities and promote its mainnet partners, Base has also launched an event called “Onchain Summer” that will allow users to mint exclusive NFTs on the network.
- During an interview with FT, CEO Brian Armstrong said that before the lawsuit a SEC staff member had said that all crypto except BTC was security, and should be delisted.
- When asked how he came to that conclusion, the SEC staff member reportedly said “we’re not going to explain it to you, you need to delist every asset other that Bitcoin”.