Coinbase, the major cryptocurrency exchange, has acquired the Routefire platform for enhanced trade execution.
It has been reported that Jason Victor, the CEO of Routefire, announced that the team would now be developing its execution services for Coinbase while thanking users for their support over the last three years.
However, Routefire started in late 2017 with a mission to enhance trading infrastructure in the crypto market. They developed products that allow traders to automatically search multiple sources of liquidity to find the most favorable rates on both prices and fees.
The report said that after the move, the Routefire team will be developing the Coinbase Prime suite of tools and services. This is aimed at being the premier brokerage platform for financial institutions that wish to trade in the cryptocurrency space.
It has been analyzed that Coinbase has suffered multiple outages over the past 12 months, often coinciding with volatile trading days for Bitcoin by angering traders who lost out on potential profits. The acquisition of Routefire and its trade execution expertise could go some way to restoring confidence in this regard.
Coinbase, at the end of last year, filed a registration for an initial public offering with the United States Securities and Exchange Commission.
Thus, the move was seen by many to be a further sign of the growing legitimacy of the cryptocurrency market.
Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.
Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.
We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.