Cryptocurrency exchanges

Crypto Exchange Coinbase to Buy Unbound Security | Finance Magnates

One of the world’s largest digital exchanges, Coinbase announced the company’s plan to acquire cryptographic security firm Unbound Security yesterday. According to Coinbase, the acquisition will play an important role in the development of its product and security roadmap.

Based in Israel, Unbound Security is a pioneer in the global cryptographic security ecosystem. Moreover, Coinbase aims to develop a technology center of excellence in Israel. Further, the crypto trading platform highlighted the rapidly growing technology sector in Israel.

Coinbase has taken a major step towards the development of a secure and trusted venue for the crypto community through the recent acquisition announcement. The company has enhanced its technology acquisitions substantially in the last few months. During the first week of November 2021, the exchange announced the acquisition of Agara, a prominent support platform powered by Artificial Intelligence (AI), to deliver world-class customer support.

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“Today, we’re announcing the next phase of our security journey with the acquisition of Unbound Security. Based in Israel, it is a pioneer in a number of cryptographic security technologies, including the emerging field of secure multi-party computation (MPC), highly advanced technology for which Unbound Security’s Co-Founder, Yehuda Lindell, is a world leader,” Coinbase mentioned in a blog.

Israel’s Crypto Ecosystem

Israel is one of the fastest-growing crypto regions in the world. The country is home to some of the biggest blockchain companies like Kirobo. Several startups in the country are currently working on the security of blockchain technology and cryptocurrencies. The recent announcement from Coinbase is part of the company’s global talent acquisition strategy.

“With this acquisition, Coinbase not only gains access to some of the world’s most sophisticated cryptographic security experts, including Unbound Security Co-Founder and the current Vice President of Research and Development, Guy Peer, who brings more than 20 years of experience in cryptographic security but also a presence in Israel, a well-established and rapidly growing technology hub,” Coinbase added.

Source: https://www.financemagnates.com/cryptocurrency/news/crypto-exchange-coinbase-to-buy-unbound-security/

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