Cryptocurrency exchange operator Coinbase has agreed to acquire crypto data aggregator Zabo. Zabo enables fintech and financial services firms to connect with crypto exchanges, wallets, and protocols.
According to a blog post, Zabo, a Dallas-Fort Worth area, will become part of the Nasdaq listed exchange Coinbase. Coinbase or Zabo haven’t disclosed amount of the deal. The deal is likely to close by the end of this month.
The Co-founders of the Zabo, Christopher Brown and Alex Treece, stated: “We are very excited to join Coinbase, which has done more than perhaps any other company in advancing the mission of bringing cryptocurrency mainstream.”
It did not disclose terms of the deal “except to emphasize that it was the proper acquisition, not an acqui-hire,” meaning Coinbase is buying Zabo for its offering, not just the people. The transaction should be closed in coming weeks, said Alex Treece.
Also Read: Coinbase Announce Support for Polygon Network on Coinbase Wallet
Both co-founders of Zabo stated: “We look forward to working as part of Coinbase to increase economic freedom for billions of people.”
Founded in 2018, Zabo provides APIs or software enabling financial applications to connect with users’ crypto accounts. Furthermore, it also allows users to connect with crypto-exchange, wallet and share data, including balances, deposit addresses, and transaction histories.
Zabo unlocked something truly magical: “making it incredibly simple and easy to connect cryptocurrency accounts and finally unify users’ complete financial picture.”
