Big cryptocurrency exchange Coinbase has acquired the Routefire platform for improved commercial implementation.
In a January 7 blog post, Routefire CEO Jason Victor revealed that the team will be expanding its execution services for Coinbase, while thanking users for their help over the last three years.
Routefire launched in late 2017 with a goal to strengthen the trading platform in the crypto industry. They also established products that allow traders to automatically scan various sources of liquidity to find the most attractive rates for both prices and fees.
Following the change, the Routefire team will build the Coinbase Prime suite of software and services. This is supposed to be the largest brokerage site for financial companies intending to invest in cryptocurrencies.
It is not a secret that Coinbase has suffered several outages over the last 12 months, frequently coinciding with wild trading days for Bitcoin, disgruntled customers who have missed out on future income. The acquisition of Routefire and its experience in the execution of trade could go some way towards restoring trust in this respect.
At the end of last year, Coinbase filed an initial public offering registration with the United States Stock and Exchange Commission. Some see this change as another indication of the increasing credibility of the cryptocurrency sector.
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