Coinbase acquires API provider Zabo for the digital-asset market

Coinbase has signed an agreement to acquire the startup Zabo, which offers clients an API to connect to cryptocurrency exchanges, wallets, and protocols. Financial terms of the deal were not disclosed.

1/ Today we are thrilled to announce that Zabo is being acquired by @coinbase!https://t.co/bpEA3vTLMW

— Zabo (@zaboAPI) August 4, 2021

The deal is expected to close in the coming weeks. Zabo noted that the Bitcoin exchange was interested in the startup’s products — this is a purchase, not the so-called acqui-hiring.

Coinbase and Zabo share a common investor — Barry Silbert’s Digital Currency Group. The latter said that the startup’s API enables developers to connect to more than 1,000 different protocols and accounts.

Congratulations to our portco @zaboAPI on joining forces w/ @coinbase!

In 2018, @alextreece1 & @ZaboIsNotnil started building tools to take crypto mainstream. Today, their API lets devs connect apps to ~1K crypto accts > key to the crypto-meets-fintech stack. Big things ahead🚀 https://t.co/OC3gh9UbcY

— Digital Currency Group (@DCGco) August 4, 2021

In April 2021, Coinbase carried out a direct listing of its shares on the Nasdaq stock exchange. After that the company acquired the analytics platform Skew and confirmed the acquisition of the cryptocurrency prime broker Tagomi.

Bitcoin exchange shares closed the session on August 4 at $244.36, up 6%. In the following week, August 10, the company представит its second-quarter 2021 financial results.

Earlier in January 2021, Coinbase acquired the blockchain-infrastructure solutions provider Bison Trails.

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