Coinbase, one of the biggest names in the world of cryptocurrency acquires decentralized exchange Paradex. Coinbase is well known for offering its crypto exchange services to consumers from all over the world.
Paradex is a platform which lets users trade coins in a peer-peer manner. It is an iteration of a decentralized exchange model, as it does not maintain custody of tokens at any stage. This makes this acquisition more interesting as one would not expect decentralized exchanges to be acquired in this manner.
With this acquisition, coinbase is looking at intoducing more cryptocurrencies which currently is not supported on its platform. Those plans were made apparent a few months ago, though no real changes have been made since. Paradex currently employs a team of 10 people. It shows how popular the service has become recently as consumers are looking for ways to buy cryprocurrency in a conveinent manner.
Dont forget to upvote me.
You can connect with me on FB/Twitter/IG@tmmcode
