Tuesday, August 16, 2022

Coinbase announces plans to acquire cryptographic security firm Unbound Security.

The Takeaway:

One of the world’s largest digital exchanges, Coinbase, yesterday announced the company’s plan to acquire cryptographic security firm Unbound Security.

One of the world’s largest digital exchanges, Coinbase, announced the crypto company’s plan to acquire cryptographic security firm Unbound Security. According to Coinbase, the acquisition will play an important role in the development of its product and security roadmap. Unbound Security, based in Israel, is a pioneer in the global cryptographic security ecosystem. The US-based cryptocurrency exchange aims to develop a technology center of excellence in Israel. 

 

Coinbase highlighted the rapidly growing technology sector in Israel.

The US-based crypto trading platform also highlighted the rapidly growing technology sector in Israel. Coinbase has taken a major step towards the development of a secure and trusted venue for the crypto community through the recent acquisition announcement. The company has enhanced its technology acquisitions substantially in the last few months. During the first week of November, Coinbase announced the acquisition of Agara, a prominent support platform powered by Artificial Intelligence (AI), to deliver world-class customer support. As reported earlier, Adidas Originals, a German sportswear clothing firm Adidas brand, announced a partnership with the crypto exchange.

 

Israel is one of the fastest-growing crypto regions in the world.

Israel is among the crypto regions in the world that are witnessing fast growth. The country is home to some of the biggest blockchain companies like Kirobo. Several startups in the country are currently working on the security of blockchain technology and cryptocurrencies. The recent announcement from Coinbase is part of the company’s global talent acquisition strategy. “Today, we’re announcing the next phase of our security journey with the acquisition of Unbound Security. Based in Israel, it is a pioneer in many cryptographic security technologies, including the emerging field of secure multi-party computation (MPC), highly advanced technology for which Unbound Security’s co-founder, Yehuda Lindell, is a world leader,” Coinbase mentioned in a blog.

Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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