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Coinbase Denies Report of $150M Acquisition of Tagomi Brokerage Agency



Coinbase, a serious American cryptocurrency alternate and pockets service, has not acquired digital foreign money brokerage agency Tagomi.

On Nov. 29, sources told CoinDesk that Coinbase acquired Tagomi for $150 million that morning, following purported negotiations between the companies final month. In accordance with The Block, Tagomi’s lending and borrowing providers made it a tempting target for an acquisition.

Responding to Cointelegraph’s request for touch upon the purported acquisition, Coinbase VP of communications Rachael Horwitz merely mentioned, “100% false.”

Tagomi had reportedly been focusing on extra retail buying and selling purchasers, high-net-worth people and lively merchants in current months, which put it in competitors with Coinbase’s skilled providing, Coinbase Professional. A hypothetical merge would thus assist Coinbase Professional improve its share within the cryptocurrency market. 

Tagomi expands its providers

Tagomi, in the meantime, has been actively increasing its providers. The agency just lately partnered with Binance’s cryptocurrency buying and selling platform for United States-based customers, Binance.US. The cooperation permits Binance.US to supply institutional liquidity for Tagomi’s customers, together with quant funds, enterprise funds, household workplaces, particular person retirement accounts and high-net-worth people.

In September, Tagomi enabled its customers to lend or borrow Bitcoin (BTC) and Ether (ETH) to facilitate lengthy or brief trades.

Tagomi additionally secured a BitLicense from the New York State Division of Monetary Providers in late March, which made it legally licensed to commerce digital foreign money property and to have interaction in cash transmission within the state.

This spring, the agency secured $12 million in a funding round with traders together with the Paradigm Fund and crypto trade large Pantera Capital.





Source cointelegraph.com

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