According to Coinbase, the acquisition will play an important role in the development of its product and security roadmap.
As a leading cryptocurrency exchange platform, providing the highest level of protection for customer assets has always been of prime importance to Coinbase. The addition of Unbound Security provides the best in class and state-of-the-art security technology for customers to interact with the cryptocurrency.
Coinbase announcing the next phase of our security journey with the acquisition of Unbound Security. Based in Israel, it is a pioneer in a number of cryptographic security technologies, including the emerging field of secure multi-party computation (MPC), a highly advanced technology for which Unbound Security’s co-founder, Yehuda Lindell, is a world leader. With this acquisition, Coinbase not only gains access to some of the world’s most sophisticated cryptographic security experts, including Unbound Security co-founder and current Vice President of Research and Development, Guy Peer, who brings more than 20 years of experience in cryptographic security, but also a presence in Israel, a well-established and rapidly growing technology hub. This presence in Israel will add an additional powerful prong to Coinbase’s global talent acquisition strategy, following on closely to recent thrusts into engineering talent bases such as India, Singapore and Brazil.
“We’ve long recognized Israel as a hotbed of strong technology and cryptography talent, and are excited to continue to grow our team with some of the best and brightest minds in these fields. The Unbound Security team will form the nucleus of this new research facility, which we plan to grow over time,” said in Coinbase blog.
Coinbase would also be looking to ensure that it stays in line with the various regulations in different jurisdictions as any kind of practice that is going to ruffle the feathers of the SEC or the other regulators is going to make things very difficult for the crypto platform.