Coinbase Acquires Routefire, a trading execution platform after suffering multiple outages

Coinbase, one of the top cryptocurrency exchange acquired Routefire for better trade execution. Basically, Routefire is a company which is working with a mission to enhance the trading infrastructure for the crypto market.

On 7th Jan 2021, Routefire declared officially via a blog post that, “we are announcing we will be discontinuing Routefire’s services and our team will be joining Coinbase to continue developing best-in-class execution services for digital assets.”

So, now Routefire team will no work for “bringing advanced trading infrastructure to the rapidly developing cryptocurrency markets by joining Coinbase.”

As per the official blog post, the Routefire has developed a tool which routinely filling $1mm+ orders with 50 bps or more in price improvement.

You might be aware that Coinbase has suffered multiple outages over the last 12 months. Yesterday also Coinbase faced outages as Bitcoin price breaks $40,000 mark.

So, it seems that Coinbase is now more concerned about its outages, the recent acquisition of Routefire seems to help in this regard.