Coinbase acquires crypto asset platform 'Echo' for $375 million

Coinbase has acquired the onchain capital formation platform 'Echo' for about $375 million.

On the 21st (local time), according to CoinDesk, Coinbase acquired Echo for about $375 million. Echo is a startup founded by Jordan Fish, known in the crypto industry as 'Cobie', and has so far raised more than $200 million across about 300 projects.

The Echo platform is designed to enable startups to raise funds directly from their own communities, and supports public token sales using a tool called 'Sonar' as well as private rounds.

Coinbase said the acquisition will "build a full-stack solution that supports the entire crypto fundraising process." The company explained that the deal will allow startups to secure tailored fundraising mechanisms suited to their user bases, and will expand opportunities for investors to directly access early-stage projects.

Coinbase plans to expand Echo's infrastructure to support tokenized securities and real-world assets (RWA). The acquisition is seen as a move by Coinbase to expand its business across the fundraising and asset tokenization ecosystem, following its earlier acquisition of the token management platform 'LiquiFi'.