Coinbase acquires a decentralized platform Paradex

Coinbase acquires a decentralized platform Paradex

New York, may 23, cryptocurrency exchange Coinbase has acquired Paradex, a platform that allows users to trade virtual coins directly with each other.

Coinbase plans to make some improvements in the technology and launch services Paradex for customers outside the United States that will allow them to sell “hundreds of tokens”. Financial terms of the deal were not disclosed.

Paradex, which employs 10 staff, is considered to be a decentralized exchange, because it does not support the storage of tokens on behalf of their users, but allows them to trade them through the digital wallets.

Such a step will significantly increase the number of cryptocurrencies that customers can buy through Coinbase. Coinbase exchange is always much stricter approach to the listing of coins than their competitors. The platform offers trade in four major coins: Bitcoin, Ether, Litecoin and Bitcoin Cash.

The company also announced Wednesday that it is restructuring its trading platform for professional investors known as GDAX. According to the announcement, customers GDAX will be transferred to the new service, called Coinbase Pro at the end of June.

Paradex decentralized exchange built into the Protocol 0x. Most probably this fact contributed to yesterday’s rapid growth in the prices of its own token exchanges that have lost in value along with other cryptocurrencies. Rumors that Aldon can be one of the Ethereum tokens, which plans to add Coinbase, served as an excellent basis for speculation.

Half an hour average price takane increased from $1 to $1.5, and then decreased. During the day it increased by 17% on Bitcoin and 20% relative to the Ether.

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