Cryptocurrency exchange is acquiring Zabo, an API provider for connecting to any exchange, wallet or protocol, the company announced in a blog post. The amount of the deal remains undisclosed. Started in 2018, Zabo stablished its own API so that blockchain developers can connect their projects to any cryptocurrency exchange, wallet, protocol or account.
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"When we started Zabo in 2018, we set out on an ambitious mission of building new tools to bring cryptocurrency into mainstream financial services," said Alex Treece and Christopher Brown, Co-Founders at Zabo.
Essentially, Zabo is crypto-version of Plaid, a fintech firm that nearly got sold to Visa for $5.3 billion. Visa abandoned its plans for the acquisition after US Justice Department filed an antitrust lawsuit that challenged the deal. Earlier this year, Coinbase acquired blockchain provider Bison Trails in addition to a crypto trade execution startup called Routefire.
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