Crypto exchange Coinbase acquires data handling startup Blockspring

Download your full 40-Page Annual Report 2018

Fiat-to-crypto exchange Coinbase, in a strategic move, has an acquired data handling startup Blockspring. Blockspring specializes in helping users connect various business API’s to data visualization apps like google sheets or Excel.

Coinbase has been one of the more prolific acquirers. The company has previously acquired 10 companies including and Paradex for $100 million and $34 million respectively. Blockspring according to InWara, a leading provider of comprehensive data in the cryptocurrency space, data is Coinbase’ 11th acquisition.

Coinbase has been an aggressive acquirer where it has acquired companies that provided a strategic edge to their business. A good example was, which allows users to earn bitcoins by completing simple tasks such as answering emails. Coinbase’ ultimate goal is to create an open financial system for the world and wants to help people to buy digital currencies using fiat ones. This will help Coinbase understand and integrate concepts such as atomic swaps, sharding, plasma, proof of stake into their own platform.

This acquisition comes almost a year after Circle, a company that adopts blockchain technology with a vision to make Bitcoin more accessible acquired one of the significant exchanges, Poloniex in February 2018 for $400 million.

By acquiring Poloniex, Circle is expecting to address solve the issues related to reliability and bolster the existing scalability, hence improving the robustness of the platform.

Mergers and Acquisitions on the rise

2018 saw some significant M&A activity with Bitstamp acquired by NXMH, Chain by Stellar and Tron acquiring BitTorrent . According to Inwara, there was an almost 100% increase in M&A by numbers in 2018 in comparison to 2017.

Source: InWara’s Annual Report 2018

The consolidation trend is likely to follow in 2019 as more traditional companies & businesses move onto blockchain ecosystem to do business.

These large-scale deals are an early indicator that the market is poised for growth as well as consolidation.

All the data for this article is sourced from InWara’s Annual Report 2018.

Download your full 40-Page report today.

Disclaimer: Article sourced from InWara. This is not financial advice. InWara does not promote/demote any company/ICO. Opinions, statements, estimates and projections in this message or other media are solely those of the individual author(s). They do not necessarily reflect the opinions of Inwara or any of its affiliates (“Inwara”). Inwara has no obligation to update, modify or amend this message or other media, or to otherwise notify a recipient thereof, in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate. Any content, information and any materials provided in this message or other media is on an “as is” basis. Inwara makes no warranty, expressed or implied, as to its accuracy, completeness or timeliness, or as to the results to be obtained by recipients, and shall not in any way be liable to any recipient for any inaccuracies, errors or omissions herein. Without limiting the foregoing, Inwara shall have no liability whatsoever to a recipient of any message or media, whether in contract, in tort (including negligence), under a warranty, under statute or otherwise, in respect of any loss or damage suffered by such recipient as a result of or in connection with any actions, opinions, recommendations, forecasts, judgments, or any other conclusions, or any course of action determined, by it or any third party, whether or not based on the content, information or materials contained herein.

This story is published in The Startup, Medium’s largest entrepreneurship publication followed by +413,678 people.

Subscribe to receive our top stories here.