Coinbase acquires Israeli crypto-security specialist Unbound Security to improve the security of its clients’ private keys.
Coinbase is an indispensable platform for anyone interested in cryptocurrencies. This is an exchange that also offers users a wallet to store and manage all assets. Suffice it to say that this platform is a prime target for hackers. Today, Coinbase announces the acquisition of Israeli crypto-security company Unbound Security to better manage its customers’ private keys.
Coinbase buys Israeli crypto-security specialist Unbound Security
For Coinbase, this buyout will greatly enhance its knowledge of cryptographic security. Unbound is indeed “a pioneer in a number of cryptographic security technologies”. Its founder, Yehuda Lindell, is known worldwide for the security of Multilateral Computing (MPC). Therefore, it makes sense that Coinbase would use MPC to offer its clients the best protection for their assets. MPC combines the security provided by cold wallets with the experience of hot online wallets.
To improve the security of their customers’ private keys.
Coinbase will look for talent wherever they are. In Israel, of course, but also in India, Singapore and Brazil. This acquisition of Unbound Security is a real step forward for the platform, especially as it wants to set up a research center in Israel. The Unbound team will be at the center of this lab and will grow with the platform over time and as the exchange progresses.
Unbound Security joins Coinbase’s already exhaustive list of acquisitions. It includes Agara for AI-driven conversations, Zabo, a data aggregator, and Skew data analysis platform. The future will show if this buyout will allow Coinbase to innovate in the security of storing crypto. Hope that’s the case, it might keep more than one hacker from messing around.