Coinbase Brings In Israeli Cyber Security Experts

Coinbase is one of the world’s largest centralized exchanges. This year it has been making major moves to bring in new partners and acquire new businesses.

Less than one month ago Crypto Gambling News reported that Coinbase had acquired a customer service platform to help relieve some of the major customer concerns. Now, it has announced it has acquired cryptographic security firm Unbound Security. 

With regulations changing rapidly in areas like Asia, many of the top exchanges have been exploring new regions to grow their business. Coinbase has apparently been looking into Israel as their next destination. Coinbase acquired the new security company to help this expansion. 

The secure platform has announced this new NASDAQ-listed acquisition for a rumored $150m. The exchange states this acquisition will bring new levels of security in a way that is frictionless and virtually impenetrable. The focus of this deal is to bring better security to private keys and assets on the platform. Coinbase’s statement claims to enable the ability to store and transfer assets easier, with more flexibility than ever.

Coinbase, like many other top exchanges, has been the target of hackers. This summer they announced 6,000 of its users’ accounts had been compromised by a flaw in the two-factor authentication process. While the exchange covered the losses, they hope its latest acquisition with Unbound Security will stop this from happening in the future.

The platform was the first exchange to go public in the United States. Since then, it has had a greater focus on regulation and security in the seek to keep top compliance. This push for security will also help branch into Israel, which Coinbase considers a hub for technology and cryptographic talent. 

Coinbase has now acquired over 12 different companies since its inception in 2012. Its strong business moves have made it one of the largest exchanges in the world. There are still plenty of countries that lack proper cryptocurrency access – meaning Coinbase has a lot of room to grow.

Unlike many other exchanges, Coinbase does not have its own native token and has not speculated about creating one. While crypto enthusiasts cannot purchase a token, they can be excited at the idea of crypto assets getting a bigger reach and a larger audience.


Updated: 12/03/2021 — 09:00