The largest U.S.-based bitcoin exchange Coinbase has acquired Routefire, a service specialising in executing large cryptocurrency trades.
As more institutions enter the crypto space, we’re committed to providing the most sophisticated trading services in the space. Today we’re excited to welcome the @routefireio team to Coinbase to help us execute on this commitment. https://t.co/hyGTtGI6Ji
— Coinbase (@coinbase) January 7, 2021
Routefire, a San Francisco-based startup founded in 2017, develops institutional-grade solutions that enable rapid execution of large orders with minimal costs and negligible price impact.
According to information on Routefire’s website, the startup previously attracted venture capital from Blockchain Capital, Hustle Fund and FJ Labs.
With the acquisition, Coinbase aims to expand the company’s brokerage business. The terms of the deal were not disclosed.
Last year, Coinbase acquired crypto prime broker Tagomi for $75 million.
Earlier, Coinbase helped the analytics-software provider MicroStrategy acquire bitcoin worth $425 million.
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