Leading cryptocurrency exchange platform announced the acquisition of Unbound Security. Based in Israel, it is a pioneer in a number of cryptographic security technologies, including the emerging field of secure multi-party computation (MPC).
With this acquisition, Coinbase will establish a presence in Israel, expected to add an additional powerful prong to the company’s global talent acquisition strategy, following on closely to recent thrusts into engineering talent bases such as India, Singapore and Brazil.
The cryptoeconomy is growing exponentially with myriad new use cases such as staking, DeFi, DAOs and NFTs. Unfortunately so are the threat vectors and complexities for participants to safely manage their crypto private keys. Technologies such as MPC will enable these groundbreaking use cases to come to life safely, securely and in a way that’s user friendly.
Coinbase also announced its intention to establish a tech center of excellence in Israel, “that will ensure that Coinbase is always at the bleeding edge of security and blockchain technology. We’ve long recognized Israel as a hot bed of strong technology and cryptography talent, and are excited to continue to grow our team with some of the best and brightest minds in these fields. The Unbound Security team will form the nucleus of this new research facility, which we plan to grow over time.”
This acquisition is subject to customary closing conditions and is expected to close in the coming months.