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On Wednesday, May 23 U.S.-based cryptocurrency exchange firm Coinbase announced the acquisition of a decentralized digital token relay-trading platform Paradex for an undisclosed sum.
The platform further enhances the Coinbase offerings by enabling users to trade virtual coins directly with each other.
Coinbase plans to make some enhancements to the technology and launch Paradex’s services to customers outside of the United States, enabling them to trade “hundreds of tokens,” it said.
Parade is considered a decentralized exchange because it does not maintain custody of the tokens on behalf of its users but allows them to trade them through digital wallets.
- Aaron Goldstein, Gambling911.com
