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$ 1.6 billion bitcoin exchange Coinbase has turned into a fully-regulated financial business.
In a blog post Wednesday, Coinbase president and chief operating officer, Asiff Hirji announced the acquisition of Keystone Capital Corp., Venovate Marketplace, Inc., and Digital Wealth LLC. Coinbase acquired all three entities through one deal with their parent company, Key Acquisition, LLC, according to a company spokesman.
Those three fintech companies: a broker-dealer license, an alternative trading system license (ATS), and a registered investment advisor (RIA) license.
"If approved, these include crypto securities trading, margin and over-the-counter (OTC) trading, and new market data products," Hiriji said in the post.
Coinbase, an industry-leading cryptocurrency exchange, has been slow to add new currencies, given that they can be considered security by the Securities and Exchange Commission (SEC).
It has been to give formal guidance about which digital tokens it plans to regulate, though it has indicated that it will be in the near future. Cryptocurrency exchanges, unlike other companies in the United States.
Some of Coinbase's competitors, like Binance, more than 200 different coins. But Coinbase currently trades only four of the biggest cryptocurrencies on the market: bitcoin, bitcoin cash, ethereum, and litecoin.
In late May, Coinbase acquired a trading platform called Paradex which lets users trade "hundreds of coins."
"The move not only reinforces" Coinbase's commitment to decentralized infrastructure and participating in the nascent world of wallet-trading, but also our focus on the international crypto trader, "Coinbase CEO Brian Armstrong said at the time.
It's unclear when additional coins will be added to the Coinbase platform.
Read more about Coinbase's mergers and acquisitions strategy.
