Coinbase has acquired Paradex, a "relayer" that allows decentralized wallet-to-wallet crypto trading. Terms of the deal were not disclosed.
We’re thrilled to announce the acquisition of Paradex, a relay platform that will allow our customers to trade hundreds of tokens directly from their wallets. The move not only reinforces Coinbase’s commitment to investing in decentralized infrastructure and participating in the nascent world of wallet-to-wallet trading, but also our focus on the international crypto trader. After making some product enhancements, we’ll initially offer this experience to customers outside the U.S., and eventually to U.S.-customers. Welcome Paradex to the Coinbase team!