What does Coinbase know? As I remember, Paradex is an ERC20 token decentralized exchange that operates on Ethereum smart contracts. Also with the SEC's questioning of the legality of ICOs, Coinbase should be moving away from tokens trading. But why are they embracing it? Does Coinbase already know that the SEC will give a favorable evaluation on ICOs?
Cryptocurrency exchange Coinbase has acquired Paradex, a platform that enables users to trade virtual coins directly with each other, the San Francisco-based company said on Wednesday.
Coinbase plans to make some enhancements to the technology and launch Paradex’s services to customers outside of the United States, enabling them to trade “hundreds of tokens,” it said.
The financial terms of the deal were not disclosed.
Paradex, which has 10 employees, is considered a decentralized exchange because it does not maintain custody of the tokens on behalf of its users but allows them to trade them through digital wallets.
The move will significantly expand the types of cryptocurrencies that customers will be able to access through Coinbase, which has traditionally been more conservative than competitors in listing new types of coins. The exchange offers trading in four of the largest coins: bitcoin, ether, litecoin and bitcoin cash.Read the whole article https://www.reuters.com/article/crypto-currencies-coinbase/coinbase-acquires-cryptocurrency-trading-platform-paradex-idUSL2N1SU1KK
