Coinbase has acquired Israeli-based Unbound Security, which will add more options for crypto-security applications, per a company announcement Tuesday (Nov. 30).
The release says Unbound is supporting Coinbase in the new field of secure multi-party computation.
This acquisition will afford Coinbase a new way into agreements with more cryptographic security experts while also establishing their presence in Israel, which has seen a need for more crypto technology recently.
This presence will also put more power behind the Coinbase global talent acquisition strategy, adding onto more engineering talent hiring in India, Singapore and Brazil.
The release adds that crypto will experience more growth through robust cryptography and strong security, and while needing to be user-friendly, there is also a need for multi-party computation (MPC) to help with better security.
MPC will help out with things like protecting customers’ assets. The press release says Coinbase also wants to add a “tech center of excellence” in Israel.
“We’ve long recognized Israel as a hot bed of strong technology and cryptography talent, and are excited to continue to grow our team with some of the best and brightest minds in these fields,” the announcement says. “The Unbound Security team will form the nucleus of this new research facility, which we plan to grow over time.”
In late November, Coinbase also bought BRD, a crypto wallet startup. That acquisition was purported to support web3 adoption and offer Coinbase greater expertise in crypto wallets, including with safety and security, from the BRD team.
Coinbase’s features have been intended to help out with things like crypto education, letting the community share information and be interactive.
According to the company, customers have been waiting for better ways to see crypto as an investment and app platform, but more self-empowerment could be useful.