The reports about the purchase of Tagomi Brokerage firm by Coinbase for $150 million are false. It was earlier reported by media outlets that one of the world’s largest trading exchange,<a href="https://www.cryptoknowmics.com/crypto/coinbase-ceo-defends-facebooks-libra-over-the-united-states-response/" target="_blank" rel="noopener"> Coinbase</a>, had acquired a premier asset management firm, Tagomi for a sum of $150 million. However, Coinbase has denied the claims.

Moreover, Tagomi had reportedly been trying to attract more retail trading clients, high-net-worth customers and recently active traders. This move put the firm in a direct competition with Coinbase’s professional offering, Cubase pro. Hypothetically a merger would enhance Coinbase pro’s share in the digital currency market.

Besides, Tagomi was founded by former traders from Goldman Sachs and ex-employees from Union Square. The firm reportedly <a href="https://www.financemagnates.com/cryptocurrency/exchange/binance-us-partners-with-broker-tagomi-to-provide-liquidity/" target="_blank" rel="noopener">raised</a> around $28 million in funding from venture capital investors such as Pantera and Morgan Creek. Tagomi as a start up in the digital space has the ability to become a unicorn in the cryptocurrency community.
<h2>Tagomi has expanded its service</h2>
Meanwhile, the asset brokerage firm has been actively expanding its service. Recently, Tagomi joined hands with Binance.US.; Binance’s cryptocurrency trading platform for users based in the United States. The partnership enables Binance to institutional liquidity to Tagomi’s clients; such as quant funds, venture funds, family offices, individual retirement accounts, and high-net-worth individuals.

Additionally, back in September, Tagomi allowed its users to lend and borrow Bitcoin and Ethereum to enable short and long trades. In addition, the firm also secured a BitLicense from the New York State Department of Financial Services back in March. The license legally allowed the firm to trade crypto assets and engage with money transactions to the united states.

In conclusion, If these particular types of innovations keep up at Tagomi, then Coinbase would have made quite a significant acquisition.  The potential returns would far outweigh the cost of acquisition which has surprised many individuals.

Coinbase Denies $150M Acquisition of Tagomi Brokerage Company

The reports about the purchase of Tagomi Brokerage firm by Coinbase for $150 million are false. It was earlier reported by media outlets that one... %

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Coinbase Denies $150M Acquisition of Tagomi Brokerage Company

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