Coinbase agrees to buy Zabo, the Plaid of Crypto, for an undisclosed sum

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Coinbase, the Nasdaq-listed cryptocurrency exchange, has agreed to acquire Zabo, a startup that enables financial companies to give their clients a bird’s-eye view of their crypto investments.

Zabo, whose co-founders work in Dallas-Ft. Worth, the deal announced in a blog post on Wednesday. He did not disclose the terms of the deal except to point out that it was a proper acquisition, not an acquisition, which means Coinbase is buying Zabo for its offers, not just for people. . The deal is expected to close within the next few weeks, said Alex Treece, one of the co-founders.

We have been fortunate to know several members of the Coinbase team for years, said Christopher Brown, the other co-founder. We saw that there were incredible opportunities to work together, which officially led us to join forces. He did not want to detail the company’s future plans.

Related: Berlin-Based Startup Certus One Acquired By Jump Trading

The Zabos service is similar to those offered in the traditional financial services industry by providers like Plaid and Yodlee, except that instead of bank or brokerage accounts, it connects crypto wallets.

Coinbase acquired, agreed to acquire, or began talks with a number of companies in the crypto industry before and after its IPO in April, including trade execution start-up Routefire, the asset manager. Osprey Funds, principal broker Tagomi and data provider Skew.

Digital Currency Group, the parent company of CoinDesk, is an investor in Zabo and Coinbase.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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