The largest U.S. bitcoin exchange Coinbase has acquired blockchain-infrastructure solutions provider Bison Trails. The terms of the deal were not disclosed.
We’re proud to announce that @BisonTrails is joining Coinbase. Much like how managed infra drove web-based innovation, we believe turn-key solutions to complex crypto challenges will allow tomorrow’s builders to focus on what they do best: building. https://t.co/OuIOAtNG0j
— Coinbase (@coinbase) January 19, 2021
In a comment, The Block‘s chief product officer Surojit Chatterjee said that the acquisition of Bison Trails would help the company strengthen its position in blockchain infrastructure services and monetize its internal products.
“Coinbase will explore new external API services that cover, among other things, security, identity, and payments,” added Chatterjee.
Bison Trails will continue to operate as an independent company, offering staking and node-maintenance services. Coinbase will remain one of the provider’s key customers.
The exchange announced the acquisition a month after filing for an initial public offering with the U.S. Securities and Exchange Commission.
In March 2019, Bison Trails raised more than $5 million in a seed funding round.
In November 2019, Blockchain Capital, Coinbase and others invested $25.5 million in the blockchain-solutions provider.
In January, Coinbase acquired the institutional-focused startup Routefire and invested in mining-software developer Titan.
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