Zabo, a Dallas-based cryptocurrency data aggregator, announced its acquisition by crypto exchange platform Coinbase.
Coinbase buys Zabo for its offerings and not just its employees
Zabo announced the deal on Wednesday in a blog post. The company did not disclose the deal terms but stressed that it is a proper acquisition, pointing out that Coinbase is buying Zabo for its offerings and not just its employees.
The company’s co-founders Christopher Brown and Alex Treece stated in the blog post that they look forward to working as part of Coinbase and continuing to bring cryptocurrencies into the mainstream while increasing economic freedom for billions of people.
What is Zabo?
Zabo’s technology connects cryptocurrency accounts and makes it easy for users to unify their crypto holdings. The core technology is a good fit for Coinbase, which aims to make cryptocurrencies accessible to the masses.
In March, Zabo announced a $2.5 million funding round led by Moonshots Capital to expand its engineering team and grow its customer base. At the time, the company said its technology allows any financial services company, including banks, brokers, and fintech, to connect to customers’ crypto wallets, adding that Zabo’s API can integrate with thousands of exchanges, wallets, and cryptocurrencies.