Coinbase has acquired crypto trade execution startup Routefire for an undisclosed sum.
Routefire announced the news on Thursday, saying that it will cease its services and join Coinbase to continue developing execution services for digital assets.
Founded in 2017, San Francisco-based Routefire claims to have the best technology to help institutional customers fill large orders at high speed and lower fees. At Coinbase, Routefire will expand the exchange's prime brokerage business.
Coinbase has already helped mega bitcoin buyers like MicroStrategy and One River Digital execute large trades following its acquisition of Tagomi last year. Tagomi pioneered best-execution in crypto and Coinbase acquired the firm for an estimated $70 million-$100 million in March of last year.
Routefire is a seven-member team led by CEO Jason Victor, according to its website. It is not clear how much the firm has raised from venture capitalists, but its investors include Blockchain Capital, Hustle Fund, and FJ Labs, per the website.
As for Coinbase, it is one of the biggest dealmakers in the crypto space, having acquired more than 20 firms to date.