In a recent blog post, it is revealed that Coinbase acquires Bison Trails, which is a blockchain infrastructure startup. This firm specializes in providing the easy-to-use platform that helps to launch or run nodes on any blockchain network easily. The firm has announced this on Monday and has not yet revealed any further terms of the agreement.
Bison Trails helps the firms to engage in the blockchain network easily and without developing any technology. Coinbase has said that with this acquisition, they are aiming to utilize the advanced technologies of this platform. The firm will use these technologies to develop more projects, across the world.
Coinbase Acquires Bison Trails as Crypto Investors Looking to Earn More Interest
It is revealed that even though Coinbase acquires Bison Trails, the firm will continue to operate as a standalone project only. It will also provide services to its current customers as well. With Bison Trails, the digital token holders can run their own validators.
Coinbase Custody has earlier integrated with the infrastructure firm, that helps the users of the platform to stake tokens. Now Coinbase acquires Bison Trails because there has been a huge interest from the crypto investors in this context. The investors are looking to earn more interest on their respective crypto assets.
Integration Between Firms Started in Late 2019
The relationship between Coinbase and Bison Trails is not a recent one as it started back in 2019 only. In late 2019, Coinbase Ventures participated in Bison Trails $25.5 million funding round. Acquisition of Bison Trails is not the only one for Coinbase in 2021 as the firm has also acquired Routefire, which is a crypto trade execution startup. Ever since the starting of this year, Coinbase seems to be in full action and the investors are waiting for other major developments coming their way.