Cryptocurrency exchange aggregator service Zabo acquired by Coinbase

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Nasdaq-listed cryptocurrency exchange Coinbase is becoming relentless in its binge purchases. The latest acquisition, just announced by the company, comes through digital currency exchange aggregator service Zabo.

As indicated by an announcement yesterday, Coinbase has begun the process of acquiring Zabo, a Dallas-based digital currency startup furnishing information integration services with major cryptocurrency exchanges and wallets, including Coinbase adversary Kraken. The size of the deal hasn’t been revealed.

Established in 2018, Zabo is building innovation to associate digital money accounts from different exchanges and wallets to bring together their cryptocurrency possessions in pre-designed, standardized information through an application programming interface (API). In particular, this permits clients to recover equilibriums and exchange narratives from different cryptocurrency addresses flawlessly.

As per the organization’s site, Zabo’s API combinations incorporate more than 50 cryptocurrency exchanges and wallet administrations, including Kraken, major blockchain wallet Ledger, cryptocurrency payment platform BitGo, the FTX cryptocurrency exchange and others. Zabo’s co-founders, Christopher Brown and Alex Treece, said in a 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. We are very excited to join Coinbase, which has done more than perhaps any other company in advancing the mission of bringing cryptocurrency mainstream.”

Last year, Zabo raised $2.5 million in a seed round led by tech-centered investment firm Moonshots Capital to keep interfacing its clients’ digital money wallets to banks, business firms, FinTech applications and assessment programming. Different financial backers in the round included major cryptocurrency financial backer Digital Currency Group, European resource chief CoinShares and Tezos Foundation.

The biggest digital currency exchange in the US, Coinbase has been extending its purchasing binge this year, getting a few new cryptocurrency companies, including blockchain information investigation platform Skew, blockchain foundation platform Bison Trails and exchange execution platform Routefire. In April, Coinbase went live on Nasdaq through an immediate posting of its COIN stock.

The blog post added, “Zabo unlocked something truly magical: making it incredibly simple and easy to connect cryptocurrency accounts and finally unify users’ complete financial picture. We are very excited to join Coinbase, which has done more than perhaps any other company in advancing the mission of bringing cryptocurrency mainstream.”

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