Coinbase Acquires Decentralized Exchange – Paradex – Ethereum World News
Paradex will permit Coinbase users to trade hundreds of tokens on a decentralized toneelpodium
Coinbase, one of the leading companies associated with the crypto sphere te the United States and possessor of Gdax, the #8 Exchange regarding volume worldwide, announced the latest acquisition of Paradex, a Dex that runs on the 0x podium.
The company made the announcement without going into too much detail. A brief postbode on its official blog exposed what could be an essential step towards the mundial decentralization of exchanges:
“We’re thrilled to announce the acquisition of Paradex, a relay podium that will permit our customers to trade hundreds of tokens directly from their wallets. The stir not only reinforces Coinbase’s commitment to investing ter decentralized infrastructure and participating te the nascent world of wallet-to-wallet trading, but also our concentrate on the international crypto trader. After making some product enhancements, wij’ll primarily suggest this practice to customers outside the U.S., and eventually to U.S.-customers.
Welcome Paradex to the Coinbase team!”
The decision to primarily provide services to non-US residents is made on justo grounds. This is the same reason why som ICOs are not available te the United States.
This is latest budge of the veteran company which seeks to expand its services while adapting to the switches te the world of cryptocurrencies.
Presently, there are more than 1600 altcoins te the market and Coinbase, despite its high volume, only offers four altcoins for trading: BTC, ETH, LTC, and BCH.
Coinbase did not disclose the terms of the overeenkomst. However, they voiced their enthusiasm regarding the purchase of this Dex:
[Paradex is] a sophisticated and secure relay podium that will permit our customers to trade hundreds of tokens directly from their wallets.
One of the aspects to note is that being Paradex a Decentralized Exchange, the control of the tokens does not fall on Coinbase, so the responsibility for trading is unique and sensational to the users. This is a pioneering policy te a company that is known for being so conservative and meticulous.
Coinbase Bets on Switches and Innovations to Succeed on the Cryptomarket
The improvements that Coinbase is making are both technological and logistical. On April 16, Coinbase Welcomed Balaji Srinivasan spil CTO, and the next day Alesia Haas joined spil CFO
Alesia Haas recently joined the Coinbase Team spil CFO. Credit: Coinbase
Regarding services and infrastructure, the last few months have bot very active for the company:
- On March 30th they announced support for ERC20 tokens
- Straks, On April 5th they added support for Bitcoin Forks
- On the same day, they began a startup financing program called Coinbase Ventures
- Then, on May 15 they published the release of a suite of institutional products
- On May 23rd they announced that the Gdax exchange would evolve into a rebranding. Its fresh name will now be Coinbase Professional, suggesting “professional trading implements and services” through a fresh UI
Thesis developments waterput Coinbase back on the crypto-map, not only for their solidity but also for their visionary strategies.