Coinbase Acquires Token Management Platform LiquiFi as Exchange Aims to Expand Its Services
Summary
Coinbase is acquiring Liquifi, a token management platform, for an undisclosed amount. Liquifi, which raised $5 million in 2022, assists projects with legal, tax, and compliance challenges in the crypto space. It is already utilized by organizations like the Uniswap Foundation and OP Labs. This acquisition marks Coinbase's fifth major purchase in 2023, following acquisitions of Roam, Spindl, Deribit for $2.9 billion, and the Iron Fish team. Liquifi will enhance Coinbase's offerings by providing vesting and compliance features for on-chain businesses and will integrate some features into Coinbase Prime. Coinbase shares increased by 2.4%, reaching approximately $343.50, with a year-to-date rise of 37%.
