Crypto heavyweight Coinbase (COIN.O) declared this week it has bought investment platform Echo in a nearly $375 million cash-and-stock deal, aiming to bring fundraising tools to its platform.
Dealcreating within the digital assets industest has picked up pace this year as a crypto-friconcludely Trump administration encourages companies to expand their business in the US
Last week, cryptocurrency exalter Kraken unveiled a $100 million deal for futures exalter Small Exalter, paving the way to launch a fully US-based derivatives suite.
Echo’s platform creates raising capital and investing more accessible to the crypto community through private and public token sales.
“We want to create more accessible, efficient, and transparent capital markets,” Coinbase declared in a blog post.
While Coinbase will start with crypto token sales via Echo’s Sonar platform, the company later plans on expanding support to tokenized securities and real-world assets.
Echo was founded by crypto trader Jordan Fish, widely known by his “Cobie” pseudonym. The platform has assisted crypto projects raise more than $200 million since its launch two years ago.
In May, Coinbase had struck a $2.9 billion deal for crypto options provider Deribit, plugging a gap in its derivatives portfolio and strengthening its international presence.
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