Coinbase acquires crypto exchange data aggregator Zabo

[newshunter]

Coinbase acquires crypto exchange data aggregator Zabo

Zabo’s API integrations include more than 50 crypto exchanges and wallet services, including Coinbase’s rival Kraken.

Source: Coinbase acquires crypto exchange data aggregator Zabo

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[ranusharma]

In the cryptocurrency space, one of the biggest issue is interoperability. It is not possible for two different blockchains to interact with each other. For two or more dApps to send and receive data, they should be based on same blockchain. Zabo acts as a interface not only between different cryptocurrencies but also accounts, exchanges and wallets. Thus, its acquisition by Coinbase will only widen its reach and market. 

It is a win-win situation for both. Given that the Zabu's API has over 50 crypto business under one umbrella, it brightens the prospects for Coinbase. Kraken is one of them. Coinbase is not taking over another crypto firm for the first time.

As per CoinTelegraph's recent Article
 
"The largest cryptocurrency exchange in the United States, Coinbase has been expanding its buying spree this year, acquiring several crypto startups, including blockchain data analytics platform Skew, blockchain infrastructure platform Bison Trails and trade execution platform Routefire. In April, Coinbase went live on Nasdaq through a direct listing of its COIN stock."