Coinbase to acquire Paradex

Coinbase plans to expand the number of coins traded on the exchange by acquiring the Paradex, a decentralized smart contract-powered trading service
24 May 2018   847

While providing trading in only four big-time cryptos (Bitcoin, Ethereum, Litecoin and Bitcoin Cash) San Francisco-based exchange Coinbase has been steadily growing in popularity since the opening. And now they plan to expand their operations by acquisition of Paradex, a decentralized smart contact-powered trading platform.

The news about the deal were released on May 24, 2018, though no financial details were disclosed as of yet.

Though Paradex is a small company with only ten employees as of now, Coinbase's acquisition of Paradex will provide their customers with ability to trade hundreds of cryptocurrencies straight from their wallets. Its a significant step for the company, because while US Securities Exchange Commission considers various ICO coins to be equal to securities and so exchanges have to be registered with regulators. Paradex gives Coinbase a chance to abstain from such regulations, because the exchange itself wouldn't be a trader, only a platform for the smart contracts to be stored and deployed from. So the exchange doesn't have to fear crossing SEC in case some of the listed coins are later judged to be commodities.

Over 13 million users will get access to the new functionality in the near future, with release outside of the US once the some technological improvements and integration into the larger platform is complete. And domestic market would see the new features once the appropriate “changes for compliance purposes” are finished.

Coinbase to Expand Services for Asia

Among the services available now there are Coinbase Prime, Pro and Custody
22 January 2019   150

Coinbase, the leading US cryptocurrency company reported that from now on its professional trading and custodial platforms are available to institutional clients and investors with large volumes from the Asian region.

In particular, according to the Coinbase blog, users of Asia will have access to the option of depositing accounts and withdrawing funds using SWIFT transfers through non-US bank accounts.

In the past 12 months, hundreds of crypto-first hedge funds have launched around the world, and many hundreds more traditional institutions such as proprietary trading firms, family offices and endowments have begun actively trading digital assets. Coinbase’s suite of professional products — Coinbase Prime and Pro, Coinbase Custody — serves these customers, along with other participants in the market, like asset issuers, crypto exchanges, and miners.
 

Elliott Suthers

Coinbase

Among the services available there are Coinbase Prime, Coinbase Pro and Coinbase Custody, which also supports the steamer USDC.

In December 2018, Coinbase began to provide services to residents of the islands of Guernsey and Maine, as well as Lithuania, Iceland, Andorra and Gibraltar.