Coinbase, the largest crypto exchange in the US, continued this year's acquisition spree by agreeing to purchase token management platform Liquifi. Deal terms were not disclosed.
Liquifi is a platform used by early-stage companies to manage token ownership, vesting schedules and compliance workflows, Coinbase VP Institutional Product Greg Tusar wrote in a 2 July blog post on its website. Companies such as Uniswap Foundation, OP Labs (Optimism), Ethena, Zora, and 0x already rely on Liquifi to launch and manage their tokens, and Coinbase pledged to help scale such operations further.
More than a billion onchain
The move feeds into a goal to bring "more than a billion people onchain" and will ease some of the pain points around the speed and and ease with which new tokens may be implemented – a process that rivals issuing traditional startup equity for companies, according to Coinbase.
"Launching a token today is too hard," Tusar said in the blog post. "Early-stage teams face a fragmented, high-stakes maze of legal, tax, and compliance hurdles on top of stitching together cap table spreadsheets, custom vesting scripts, and regulatory guesswork. We want to remove these barriers by providing both the product and the expertise to make token launches simple, compliant, and scalable. "
Deal spree
Shares in Coinbase have increased more than one third this year, propelling into the S&P500 US benchmark of stocks, as the company made several significant deals including the acquisition of derivatives exchange Deribit for $2.9 billion. The stock was little changed at 15:41 UTC in Wednesday trading in New York.
The company is also still reeling from a customer data breach which could cost it up to $400 million, Coinbase reported in May.
