Coinbase to acquire unrelated security

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Coinbase has acquired Israel-based Unbound Security which will add more options for crypto-security applications, according to a company announcement on Tuesday, November 30.

The release says Unbound supports Coinbase in the new realm of secure multi-party computing.

This acquisition will offer Coinbase a new way to strike deals with more crypto security experts while establishing their presence in Israel, which has recently seen an increased need for crypto technology.

This presence will also strengthen Coinbase’s global talent acquisition strategy, in addition to the hiring of more engineering talent in India, Singapore and Brazil.

The version adds that crypto will experience greater growth thanks to strong cryptography and increased security, and while it needs to be user-friendly, there is also a need to resort to multi-party computing (MPC) to improve security.

MPC will help with things like protecting client assets. The press release says Coinbase also wants to add a “center of technological excellence” in Israel.

“We have long recognized Israel as a hotbed of strong talent in technology and crypto, and we are delighted to continue to grow our team with some of the best and brightest minds in these fields,” the announcement said. “The Unbound Security team will form the core of this new research center, which we plan to develop over time.”

In late November, Coinbase also bought BRD, a crypto wallet startup. This acquisition was supposed to support the adoption of Web3 and provide Coinbase with greater expertise in crypto wallets, including security and safety, from the BRD team.

See also: Coinbase buys crypto wallet firm BRD to accelerate Web3 adoption

Coinbase’s features were designed to help with things like crypto education, allowing the community to share information and be interactive.

According to the company, customers have been waiting for better ways to view crypto as an investment and app platform, but more empowerment could help.

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