Top-tier exchange platform Coinbase has reportedly finalized the acquisition of the Routefire platform to improve the execution process for trading.
Specifically, Head of Routefire, Jason Victor, reportedly remarked that his team will start to work on its execution services for Coinbase, while at the same time sending their appreciation towards their clients, for three years of choosing the firm.
Established three years ago in 2017, Routefire reportedly operates with a primary goal of rolling out development for trading infrastructure across the crypto market.
Their solutions will enable automatic searching for a variety of sources of liquidity for traders, to select the most favorable rates on both prices and fees.
Following the development, the Routefire team will reportedly be spending their resources on the Coinbase Prime suite of tools and services. This is reportedly set to function as the premier brokerage platform, dedicated to financial entities, who look to carry out trading within their crypto sphere.
Coinbase has reportedly been victimized by numerous outages throughout the last 12 years, usually coinciding with volatile trading days for Bitcoin, making traders who miss out on potential profits angry.
The initiative to buy out Routefire and its trade execution expertise could contribute to earning back confidence in this regard.
Towards the end of 2019, Coinbase reportedly submitted a filing for an initial public offering with the US Securities and Exchange Commission, which was viewed by others to be a sign of the rising legitimacy of the cryptocurrency market.