Coinbase recently acquired Unbound Security, a cybersecurity firm from Israel, to improve its position in the region. With this acquisition, they now sit above other major exchanges in the area.
Unbound Security is a leading provider of data protection and blockchain security solutions. It’s a subsidiary company of Check Point Software Technologies Ltd. The acquisition by Coinbase means that cryptocurrency traders around the world will be able to use Unbound Security’s products to protect their cryptocurrency wallets and transactions.
In a recent blog post, Coinbase shared that they acquired a company called Unbound. This company is a pioneer in the world of crypto security and has an expertise in a new technology called “secure multi-party computing” or “MPC”. This acquisition will help the company strengthen and enhance their security and better protect user data.
MPC is the most recent advancement in the world of technology. MPC enhances digital asset storage and transfer by using advanced mathematics. Yehuda Lindell, co-founder of Unbound, is a global leader in MPC. The statement reads “MPC uses advanced mathematics to achieve better storage and transfer of digital assets.”
Coinbase is gaining access to some of the world’s most advanced crypto security experts… as well as a presence in Israel, a well-established and rapidly-growing technology hub.he said.
The article also mentions that as cryptocurrency use cases increase, the risk of hackers attacking these systems is also increasing. MPC software is designed to strengthen the security of cold wallets and prevent unauthorized access to wallet funds.
Following the acquisition, Coinbase also announced plans to establish an Israel-based technology center to continue its technological research. They say that the new center will “form the nucleus” of a new research facility that will grow over time.
For Coinbase, this isn’t the first time the company has expanded its operations outside North America. Early this year, the exchange opened its first technological center in India, marking its first international expansion. Only a few weeks ago, the engineering team extended into Singapore and Brazil, among other countries.