Leading crypto platform Coinbase Inc. announced that it has acquired Skew. The announcement was announced by Greg Tusar; the Vice President Institutional Product via the company’s official blog. “I’m thrilled to announce that Coinbase is acquiring Skew, the leading institutional data visualization and analytics platform for crypto markets”, he wrote.
Coinbase is a secure platform that enables the sale, purchase and holding of cryptocurrency. The American company operates remotely and therefore has no physical headquarters. It was founded by Brian Armstrong and Fred Ehrsam in 2012 and as of March this year, was the largest cryptocurrency exchange platform in the whole of the United States by trading volume.
Skew on the other hand, is a leading provider of professional data analytics and trade execution services for cryptocurrency markets. Skew helps institutional investors to be able to stay ahead of the market by using its services. Skew is Coinbase’s first-ever acquisition and has announced on its website that it is joining Coinbase. The message on the site boldly reads “Skew is joining Coinbase”.
Coinbase acquiring Skew will provide the company with lots of benefits. Some of these advantages include that Coinbase will now be able to give actionable data analytics to institutions and traders in real-time, enhance the company’s offering, help investors make more informed trading decisions, etc. The biggest benefit of all according to the Vice President Institutional Product is that the Skew’s team will bring its wealth of crypto and financial services experience to Coinbase. “Through this acquisition, Coinbase reinforces our commitment to serving the growing institutional market. We know that access to high quality data is essential for institutions assessing investments investments in crypto assets. That’s why we’re excited to integrate Skew’s data analytics platform with Coinbase Prime, allowing our customers to track cryptocurrency spot and derivatives markets in real-time”, Greg Tusar added.
According to the information on the official blog, over 7,000 financial institutions trust the platform for crypto-related services. Coinbase will also continue to serve Skew’s customers and encourages new customers to use Skew’s platform. With the new acquisition, Coinbase believes that it is ready for new heights.
