Coinbase Acquires Solana Trading Platform Vector

Coinbase Expands Solana Presence with Vector Acquisition: The cryptocurrency exchange giant Coinbase is bolstering its position in the thriving Solana ecosystem by acquiring Vector, a Solana-specific trading platform. This strategic move aims to bolster Coinbases handling of Solana-based assets and streamline trading processes. The deal, expected to close by year-end, will integrate Vectors team and technology into Coinbases consumer trading division, expediting support for new Solana tokens, optimizing trade routing, and fortifying Coinbases infrastructure for decentralized exchanges. While Vectors standalone apps will be phased out, the Tensor Foundation will remain unaffected. This acquisition is Coinbases ninth this year, reflecting its aggressive growth strategy, and comes as Solanas decentralized exchange volume surpasses one trillion dollars. Coinbase aims to become an everything exchange with quicker access to new tokens and smoother transactions in Solanas dynamic markets.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.