Coinbase cryptocurrency exchange has acquired an ethereum wallet providers, Cipher Browser. The exchange announced its acquisition of the mobile wallet on Friday, Apr. 13
Along with the merger, it was also announced that founder of Cipher browser Peter now becomes the head of Engineering at Toshi. Also as the Browser becomes part of Coinbase, its decentralized app browser would merge its features into Coinbase’s decentralized mobile browser, Toshi. According to Cipher Browser, one of the first features according to that will be introduced to Toshi are testnets.
“We’ll be merging many features of Cipher into Toshi. We’re committed to building the best Web 3 experience on mobile,” The tweet read.
Exciting news! @CipherBrowser is joining @Coinbase!@petejkim will become head of engineering for @Toshi and we'll be merging many features of Cipher into Toshi.
We're committed to building the best Web 3 experience on mobile.
We can't wait for what we can all build together! pic.twitter.com/2XuuPqD6fp
— Cipher Browser for Ethereum (@CipherBrowser) April 13, 2018
Details of the acquisition are sketchy at the moment as both parties did not reveal the any more about the deal.
Vice president for Communications at Coinbase, Rachel Horwitz speaking about the merger expressed Coinbase’s satisfaction over the deal. “Given the similarity of our product visions, we’re happy to be joining forces with Pete, who will become head of engineering for Toshi alongside Sid Coelho-Prabhu, Coinbase’s product lead for Toshi. In coming weeks, we’ll merge certain features of Cipher into Toshi.”
Coinbase want to be a Crypto Empire
News of this latest acquisition comes as within a series of major announcements coming from the company in a short space of time. After it announced support for SegWit in March, the cryptocurrency exchange revealed plans to create an Index. This was followed by new that the exchange has established a venture capitalist fund to support blockchain and cryptocurrency projects.
VP Horwitz gave an idea of the company’s ambition in the cryptocurrency space. She said that Coinbase “is always looking to acquire the best teams and technologies in the crypto spaces.”
Solomon Sunny is the market reporter for Smartereum, one of the global leaders in Ethereum, blockchain and currency news. He produces technical price updates on digital currencies and writes recent developments about blockchain.
