Coinbase acquires crypto exchange data aggregator Zabo

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The Nasdaq-listed cryptocurrency exchange Coinbase continues its buying frenzy by acquiring the Zabo cryptocurrency aggregator service.

According to an announcement on Wednesday, Coinbase has started the process of acquiring Zabo, a Dallas-based cryptocurrency startup providing data integration services with major crypto exchanges and wallets, including Coinbases rival Kraken. The size of the acquisition agreement was not disclosed.

Founded in 2018, Zabo develops technology to connect the cryptocurrency accounts of various exchanges and wallets in order to unify their crypto holdings into preformatted and standardized data through an application programming interface (API). Specifically, the service allows users to retrieve balances and transaction histories from multiple crypto addresses transparently.

According to the company’s website, Zabos API integrations include more than 50 crypto exchanges and wallet services, including Coinbases rival Kraken, the leading blockchain wallet Ledger, the crypto payment platform BitGo, FTX crypto exchange and others.

Over the past three years, with the help of our great team, clients, investors and partners, we have succeeded in establishing the Zabo API as the most powerful tool in the world to connect to any crypto exchange, wallet, protocol or account, Zabo co-founder Alex Treece wrote in a blog post.

We are very happy to join Coinbase, which has done more than perhaps any other company to advance the mission of mainstreaming cryptocurrency, he added.

Related: Coinbase and Top Executives Face Securities Class Action Over Nasdaq Listing

Last year, Zabo raised $ 2.5 million in a fundraiser led by technology-focused venture capital firm Moonshots Capital to continue connecting its clients’ cryptocurrency wallets to banks. , brokerage firms, fintech applications and tax software. Other investors on the round included leading crypto investor Digital Currency Group, European asset manager CoinShares and the Tezos Foundation.

The largest cryptocurrency exchange in the United States, Coinbase has extended its buying spree this year, acquiring several crypto startups including blockchain data analytics platform Skew, the infrastructure platform Bison Trails blockchain and Routefire trade execution platform. In April, Coinbase went live on the Nasdaq thanks to a direct listing of its COIN share.

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