Coinbase to Acquire a Cryptographic Security Company
Coinbase has been entirely focusing on providing advanced security solutions to secure customers’ investments. Their strategies have developed throughout time, but the goal has remained constant: to create a safe and most trustworthy platform for anybody to connect with the crypto economy.
With the purchase of Unbound Security, Coinbase is entering the next step of the security journey. Unbound Security is based in Israel and has knowledge of various cryptographic security technologies, including the growing subject of secure multi-party computation (MPC), and Security’s co-founder, Yehuda Lindell has pioneered in the area.
Coinbase will gain access to experts of cryptographic security, an established and rapidly growing technology hub, with this acquisition. Coinbase’s worldwide talent acquisition strategy will be bolstered by its fact in Israel, which comes on the heels of previous forays into technical talent hotbeds like India, Brazil, and Singapore.
Cryptography and security are essential for crypto’s growth, but it needs to be user-friendly. Secure multi-party computing is a mathematical application that allows storing crypto assets, exchanged, fast deployment, and conveniently.
The crypto economy is exploding with many new cases like staking, DAOs, DeFi, and NFTs. Sadly, participants’ danger vectors and difficulties in adequately handling their private crypto keys are also increasing. MPC-based technologies will allow these ground-breaking use cases to be realized safely, securely, and in a user-friendly manner.
MPC will fulfill this promise by safeguarding our clients’ funds via a method that combines the almost impregnable characteristics of cold, offline storage, and online wallets. MPC capabilities in the coming period will enable additional features to engage in the crypto economy across our consumer, institutional, and cloud products.
Along with the technological knowledge that this purchase will provide, Coinbase wants to build a tech center in Israel to guarantee that Coinbase remains at the forefront of security and Blockchain technology.
The positive Coinbase review pushed to partner with Unbound Security to create the best crypto platform. Coinbase is looking forward to working along with Unbound to deliver high-end crypto security.