Cryptocurrency exchange Coinbase has announced the acquisition of Bison Trails, a blockchain infrastructure company. With the acquisition, Coinbase wants to bring technologies developed by Bison Trails to more projects and more companies around the world.
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The exchange says Bison Trails will continue to operate as a separate product and provide services to its current customers.
"Bison Trails will continue to build on its current offerings as a foundational element of Coinbase’s ecosystem suite of products," the exchange said.
Coinbase plans to extend infrastructure and API services that the exchange has rolled out to power its products. Recently, Coinbase also invested in Rain Financial, a cryptocurrency exchange based in the Middle East. As of total, Rain Financial raised $6 million in the Series A funding round from Coinbase, Middle East Venture Partners (MEVP) and others.
Other investors include: Vision Ventures, Jameel Investment Management, CMT Digital Venture and DIFC Fintech Fund. The exchange was founded back in 2016. It received a Crypto-Asset Module (CRA) license from the Central Bank of Bahrain, which made it the very first and the only licensed crypto exchange in the Middle East.
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