Coinbase acquires Liquifi, a token management platform that is designed to help projects at an early stage, said the crypto exchange in a blog post about Wednesday.
The company, which is purchased for an unprecedented amount, has previously raised $ 5 million in a 2022 financing round with the participation of former Coinbase CTO Balaji Srinivasan and Anthony Pompliano, the entrepreneur and social media personality, according to Cryptor sofa.
Allowing organizations to manage a “high-stakes maze of legal, tax and compliance lenses”, including pitfalls related to the cryptosphere, Coinbase said that Liquifi is already being tapped by entities, including the Uniswap foundation And on labs. The platform is a “practical step” in the direction of his goal to make it easier to build on a chain, Coinbase added.
Decrypt has contacted Coinbase for extra comments.
Coinbase’s purchase of Liquifi represents his fifth major acquisition this year, according to Cryptorank. Coinbase also has the browser product Roam, the on-chain advertising platform Spindl and the Futures Exchange Deribit for $ 2.9 billion. Moreover, Coinbase has purchased the team behind Iron Fish, a privacy -oriented network.
Obtaining Spindl and the Iron Fish team corresponds to “important infrastructure upgrades” for the low-2 scale network base of Coinbase, the company said in a shareholder This year it adds that it “lays the foundation for the acceptance of the Global Scale Apps.”
Under Coinbase, Liquifi helps companies that build on the chain, with legal and compliance functions that the company says today represents barriers for companies. Used by popular crypto projects to manage governance tokens, in theory the platform can help more traditional companies to integrate tokens into their business model.
In the blog post, Coinbase said that Liquifi also enables investors to manage token companies, and that some functions of Liquifi will be folded in Coinbase Prime, the company’s brokerage platform aimed at institutional investors.
Coinbase -shares rose by 2.4% on Wednesday and changed ownership around $ 343.50, according to Yahoo Finance. The shares of the company have 37% Gerally years to date and the shares of the company registered their highest final race last week.
Published by James Rubin
