The cryptocurrency exchange Coinbase listed on the Nasdaq, has agreed to acquire Zabo, which is a startup that lets financial companies give their customers a bird’s-eye view of their crypto investments.
Zabo, whose co-founders announced the deal in a blog post Wednesday and did not disclose the terms of the deal, except to emphasize that it was a proper acquisition, not an “acqui-hire,” meaning Coinbase is buying Zabo for its offerings, not just the people. Zabo’s service is very similar to those offered in the traditional financial services industry by vendors like Plaid and Yodlee, except instead of bank or brokerage accounts it connects crypto wallets.
Coinbase has acquired, agreed to acquire or entered talks with a number of companies in the crypto space before and after going public in April, including trade execution startup Routefire, asset manager Osprey Funds, prime brokerage Tagomi and data provider Skew.
Digital Currency Group, the parent company of CoinDesk, is an investor in Zabo and Coinbase.
