Coinbase Launches Coinbase Pro, Acquires Paradex

May 28 2018

Popular U.S. cryptocurrency exchange Coinbase has announced two important developments recently. One, it has launched Coinbase Pro, the updated version of GDAX - its trading platform for the individuals. Two, it has acquired Paradex, a U.S.-based start-up that offers decentralized digital token relay-trading platform.

GDAX, which was launched in 2015 for individual crypto traders, and now rechristened as Coinbase Pro, will offer individuals the ability to trade a variety of digital assets on a secure, insurance backed platform. It will now offer an intuitive user interface (UI) with real-time order books, charting tools, trade history, and a simple order process so one can trade from day one.

While the company’s Paradex acquisition move reinforces its commitment to investing in decentralized infrastructure and participating in the nascent world of wallet-to-wallet trading, along with focusing on the international crypto traders. After making some product enhancements, Coinbase will initially offer this experience to customers outside the U.S., and eventually to U.S.-customers. The financial details of this acquisition were not disclosed.

Earlier this month, the company also introduced four new products/services for institutional investors - Coinbase Custody, Coinbase Markets, Coinbase Prime and Coinbase Institutional Coverage Group. The company also reportedly looking to acquire a federal banking license. Overall, Coinbase seems to be on the expansion spree in order to provide best possible trading experience and service to its individual as well as institutional clients. 

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