Coinbase Gets Secure Access to the Israeli Market

Cryptocurrency exchange Coinbase plans to acquire cryptocurrency security firm Unbound Security.

In a blog post published on Tuesday, Coinbase announced that it will acquire Unbound to secure the crypto firm's security technology and start trading in Israel. The exchange referred to Unbound's work in a collaborative effort to provide users with "almost no hope of offline cooling and the convenience of an online wallet."

Coinbase said, “We have long recognized that Israel is a hotbed of intellectual property and cryptocurrencies, and we pride ourselves on being able to improve our team to the best of our ability and the best in this field. will continue to evolve.

The acquisition of Unbound, listed on the Nasdaq in April of this year, is the current acquisition of the massive cryptocurrency exchange, bringing the company's value to around $ 100 billion. Last week, crypto wallet services group BRD announced that it would partner with Coinbase to "accelerate the adoption of Web 3.0" and provide "in-depth personal hosting expertise."

Coinbase did not immediately announce the details of its acquisition of Unbound. The exchange has acquired companies such as Agara (a intelligently designed platform operating in India), Zabo data collection, and the Skew data analytics platform, all of which can boast millions or more. .

As the value of the cryptocurrency continued to fluctuate, Coinbase announced in August that it had around $ 4 billion in cash to deal with the declining retail volume of the cryptocurrency and possibly at higher operating costs due to management issues. The company's revenue for the third quarter of 2021 was $ 1.2 billion, and total revenue was $ 406 million.