Routefire acquired by Coinbase to push enhanced trade execution

January 8, 2021

Quick take

1 minute read

Coinbase has just recently acquired the Routefire exchange for enhanced trade execution.

Routefire started in early 2018 with a simple goal to enhance trading infrastructure across the crypto industry.

Coinbase, one of the biggest crypto platforms in the industry has just recently acquired the Routefire exchange for enhanced trade execution.

As a little bit of background on Routefire, they started in early 2018 with a simple goal to enhance trading infrastructure across the crypto industry. Since they launched, they have developed several products that have allowed users and traders to automatically search for numerous sources of liquidity which will help them find the best rates on both price and fees.

The chief executive officer of the Routefire platform, Jason Victor wrote in a blog post on the 7th of January earlier this week that the team would now be developing its execution services for Coinbase. Along those lines, he thanked his user base for the support of the past three years.

In the blog post, he said:

We’ve had an incredible few years serving this community. When we entered the space, crypto market infrastructure was in its infancy, and traders were sorely in need of a solution that allowed them to execute quickly and efficiently across venues without suffering the market impact common to large block orders. Our mission was to enhance trading infrastructure in crypto markets, and we developed one of the most performant tools in the space, routinely filling $1mm+ orders with 50 bps or more in price improvement. Most of all, we enjoyed listening to and partnering with our customers to build the Routefire platform.

The team at Routefire will be developing the Coinbase Prime suite of tools and services as well. Over the past year, Coinbase has been the subject of several outages which has often happened simultaneously to the volatile trading of the leading coin.

Not too long ago, the platform registered for an initial public offering alongside the United States securities and exchange commission. Many people within the community said that this was a big sign of legitimacy in the markets.

For more news on this and other crypto updates, keep it with CryptoDaily!

Related TAGS:

You can share this post!

Source: Read Full Article