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Coinbase acquires trading platform Paradex

May 24, 2018 By Crypto Reporter

Coinbase, the most popular US cryptocurrency exchange, has acquired Paradex, a decentralized cryptocurrency trading platform that enables users to trade ERC-20 tokens.

A key distinction between Paradex and other exchanges is that it does not hold tokens on behalf of its customers. Users instead trade peer-to-peer, directly from their own “wallets.”

“The move not only reinforces Coinbase’s commitment to investing in decentralized infrastructure and participating in the nascent world of wallet-to-wallet trading, but also our focus on the international crypto trader,” Coinbase said in a blog post. “After making some product enhancements, we’ll initially offer this experience to customers outside the U.S., and eventually to U.S.-customers.”

The acquisition will significantly expand the list of cryptocurrencies that customers will be able to access through Coinbase, which has always been more conservative than competitors in listing new coins. Currently, the exchange offers trading only in bitcoin, ether, litecoin and bitcoin cash.

Coinbase has traded $150 billion in assets for more than 20 million customers and had a reported revenue last year of $1 billion

More news:

  • Gemini acquires trading technology platform Omniex
    Gemini acquires trading technology platform Omniex
    January 30, 2022
  • British Standard Chartered bank to launch a trading platform for institutional investors 
    British Standard Chartered bank to launch a trading platform for institutional investors 
    June 7, 2021
  • MoneyGram acquires minority stake Coinme
    MoneyGram acquires minority stake Coinme
    January 9, 2022
  • Mastercard acquires cryptocurrency intelligence company CipherTrace
    Mastercard acquires cryptocurrency intelligence company CipherTrace
    September 16, 2021
  • FTX acquires regulated crypto futures and options exchange LedgerX
    FTX acquires regulated crypto futures and options exchange LedgerX
    October 27, 2021
  • Coinbase, Crypto.com and Bitstamp secure regulatory approval in Italy
    Coinbase, Crypto.com and Bitstamp secure regulatory approval in Italy
    July 26, 2022

Filed Under: General News, News Tagged With: Coinbase, cryptocurrency, exchanges, news, Paradex

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