Coinbase Announces its Acquisition of skew
Coinbase, a California based digital asset exchange operator, recently announced its acquisition of skew, a leading provider of professional data analytics and trade execution services for cryptocurrency markets.
The new acquisition is subject to customary closing conditions, and is expected to close in Coinbase’s second fiscal quarter.
According to the official announcement, this acquisition enables Coinbase to strengthen its commitment to serving the growing institutional market. It is of great importance to obtain high quality data for institutions which assess investments in crypto assets. The crypto company will integrate skew’s data analytics platform with Coinbase Prime, allowing customers to track cryptocurrency spot and derivatives markets in real-time. In addition, professional traders will be able to enjoy dynamic, aggregated market data, presented in a highly actionable format.
Coinbase will continue to serve customers of skew’s analytics product, and invite new customers to try the skew platform by signing up for an account on skew.com.
Based in London, skew was co-founded in 2018 by CEO Emmanel Goh and COO Tim Noat, aiming to make cryptocurrency markets more transparent and accessible to institutional finance. Since then, the company has grown to serve more than 100 customers and has become a thought leader on the state of derivatives and spot markets in crypto.
Commenting on this merger, Coinbase said that they are excited to welcome the skew team and their customers to Coinbase. Together, the two parties will continue to unlock institutional participation in the cryptoeconomy.
skew posted the following on the social media, "we are incredibly excited to share the news that skew will be joining Coinbase to continue our journey of unlocking institutional adoption of the cryptoeconomy!"
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