Coinbase buys Skew. Skew’s data analysis tools will be used on Coinbase.
Popular cryptocurrency exchange Coinbase announced on Friday that it has acquired a data analytics provider called Skew. Coinbase will link Skew’s data, including information on derivatives and spot volumes, charts and Bitcoin’s (BTC) volatility, to the corporate main brokerage platform Coinbase Prime.
Skew’s data analysis tools will complement Coinbase’s existing corporate products, which encompass a range of products for confidential and over-the-counter trading. While the deal is expected to be completed in the second quarter, no statement has been made about how much Coinbase purchased Skew.
“We know that access to high quality data is essential for organizations evaluating investments in crypto assets,” Greg Tusar, vice president of the Exchange’s Corporate Product, said in a blog post. According to Tusar, Coinbase has a total assets of $ 122 billion and serves more than 7,000 corporate customers.
In the first months of 2021, Coinbase announced that it has acquired cryptocurrency infrastructure firm Bison Trails to start a business similar to Amazon Web Services. In addition, the company, which added the trading platform Routefire in January, seems to be taking firm steps to strengthen its infrastructure.