The exchange seeks to improve its set of brokerage tools for institutions.
Coinbase acquires Routefire platform to improve its trading infrastructure NEWS
One of the main exchanges of cryptomaps, Coinbase Bitcoin Supreme has acquired the Routefire platform for enhanced trading execution.
In a blog post on January 7, Routefire CEO Jason Victor announced that the team would now be developing its services for Coinbase, while thanking users for their support over the past three years.
Routefire began in late 2017 with the mission to improve the trading infrastructure in the cryptomorph market. They have developed products that allow traders to automatically search various sources of liquidity to find the most favorable values, both in prices and rates.
Following the move, the Routefire team will develop the Coinbase Prime suite of tools and services. The goal is to be the main brokerage platform for financial institutions wishing to trade in the cryptomain space.
Coinbase has experienced several interruptions in the last 12 months, often coinciding with volatile trading days for Bitcoin, annoying traders who have lost potential profits. Routefire’s acquisition and trade execution experience can help restore confidence in this regard.
At the end of last year, Coinbase registered an IPO with the US Securities and Exchange Commission. The change was seen by many as yet another sign of the growing legitimacy of the cryptomime market.