- Coinbase said it has agreed to acquire prediction market startup The Clearing Company.
- With this acquisition, Coinbase said it plans to pursue the expansion of prediction market services and related product development.
- The industry has evaluated this acquisition as part of a business diversification strategy.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
Global digital asset (cryptocurrency) exchange Coinbase is pursuing the acquisition of a related startup to expand its prediction market business.
On the 22nd (local time), according to crypto-focused media The Block, Coinbase has agreed to acquire prediction market startup The Clearing Company.
The deal is expected to be completed in January next year. Specific terms, including the acquisition price, were not disclosed.
The Clearing Company is a startup that has developed prediction market-related technology and infrastructure, and after the acquisition is completed, the team will join Coinbase. They plan to support Coinbase's expansion of prediction market services and related product development.
Coinbase has recently been expanding its business areas beyond spot trading of digital assets to include derivatives, payments, and prediction markets. Industry sources view this acquisition as part of a strategy to diversify services in anticipation of changes in the regulatory environment.
