The world’s largest cryptocurrency exchange, Coinbase, is acquiring an Israeli cryptographic, key management and protection company, Unbound Security.
This acquisition will serve as a basis for the establishment of an R&D centre in Israel.
Founded in 2012, Coinbase became popular among cryptocurrency fans by providing them with information on how to exchange shares of Bitcoin and other digital currencies. The company went public this year at a valuation of over $100 billion.
Coinbase said Unbound Security was a pioneer in a number of cryptographic security technologies, including the emerging field of secure multi-party computation (MPC), in which Lindell is a top researcher.
Unbound Security’s best-in-class multi-party computation expertise will play a foundational role in Coinbase’s product and security roadmap.
The acquisition of Unbound Security will establish the presence of Coinbase in Israel and will add an additional powerful prong to the company’s global talent acquisition strategy as the Unbound Security team will form the nucleus of the new Coinbase R&D facility in Israel.
Coinbase says it has over 70 million verified users and about 7 million monthly transacting users.