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Coinbase to Acquire Cryptographic Security Firm, Unbound Security

Stock MarketsNov 30, 2021 21:30
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© Reuters

By Sam Boughedda

Investing.com — Crypto exchange Coinbase Global Inc (NASDAQ:COIN) said it will acquire cryptographic security company Unbound Security.

Shares of Coinbase dipped 0.7% on Tuesday.

Based in Israel, Unbound Security is prevalent in several cryptographic security technologies, including the emerging field of secure multi-party computation (MPC).

Coinbase said that as well as gaining access to some of the "world's most sophisticated cryptographic security experts," including Unbound Security co-founder and current Vice President of Research and Development, Guy Peer, it will also establish a presence in Israel.

A hub for Coinbase in the country adds to its recent engineering talent base expansions in India, Singapore, and Brazil.

"Crypto can’t grow without strong cryptography and strong security, but it also needs to be user friendly," said Coinbase in a blog post.

"Secure multi-party computation is an application of advanced mathematics to enable crypto assets to be stored, transferred and deployed more securely, easily and flexibly than ever before," they added.

Coinbase to Acquire Cryptographic Security Firm, Unbound Security
 

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