Media: Coinbase is negotiating the purchase of a Tagomi crypto-broker

Media: Coinbase is negotiating the purchase of a Tagomi crypto-broker

November 16, 2019 by
The largest U.S. cryptocurrency company Coinbase has reached the final stage of negotiations to acquire the broker Tagomi, which had previously attracted $28 million from Peter Thiel, Pantera Capital, Digital Currency Group and other venture capital investors. This is reported by The Block citing knowledgeable sources.

According to some experts, Tagomi would perfectly complement the large-scale ecosystem of Coinbase, including the previously acquired broker-dealer Keystone and decentralized exchange Paradex.

Tagomi began operations in December 2018, offering services to investors in Bitcoin, Ethereum and other digital assets. These include inter-market execution, capital management, post-trading reporting, settlement and custody services.

If the transaction between Coinbase and Tagomi takes place, it will be one of the largest acquisitions in the cryptographic industry. By the way, M&A activity this year has fallen by more than 50% compared to 2018, both in terms of a number of transactions and amounts:

To date, Tagomi has attracted $28 million in venture capital investments. Thus, in March the firm received $12 million from Pantera Capital, Paradigm, and before that – $16 million from Digital Currency Group, SV Angel, Founders Fund and billionaire Peter Thiel.

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