Coinbase cryptocurrency exchange snaps up Routefire
By Bob Garcia
Coinbase announced today that it has reached a deal to buy Routefire, the leading trade execution infrastructure provider in the world of crypto. Coinbase is currently the biggest cryptocurrency exchange in the United States, although the company now serves customers in 32 countries.
The acquisition isn’t without precedence as Coinbase has been plagued by outages over the past year. Given that the site’s system outages coincided with large spikes in the price of Bitcoin and other cryptos, frustrated traders missed out on potential profits.
Routefire was founded in 2017. Although the company initially used a simple 50-line script to route orders, Routefire’s technologies now offer unrivalled cryptocurrency trade execution performance. The company’s products make it easy for cryptocurrency traders to simultaneously search several liquidity sources to get the best execution prices and lowest possible fees with minimal effort.
In a statement Routefire Chief Executive Office Jason Victor said, “While we’ll no longer be supporting the Routefire platform, we are very excited to continue on our mission of bringing advanced trading infrastructure to the rapidly developing cryptocurrency markets by joining Coinbase. We remain deeply committed to this ecosystem and are excited to help develop Coinbase’s market-leading suite of institutional products, which provides the true end-to-end solution that we believe best meets our customers’ needs.”
Coinbase has big plans for 2021. The company filed an IPO registration with the SEC in 2020.
More information on Routefire’s technologies can be found at routefire.io. Visit coinbase.com to learn more about the global cryptocurrency exchange.