Coinbase has announced the acquisition of Unbound Security, a company based in Israel that specializes in cryptographic security technologies.
The US crypto exchange says that it plans to establish a tech center for excellence in Israel in the deal to benefit from cryptography talent in the middle-eastern nation.
The company adds that it would benefit greatly from the cryptographic security experts at Unbound, including its co-founder and Vice President Guy Peer.
The Unbound’s field of expertise includes the secure multi-party computation technology for which the firm’s co-founder, Yehuda Lindell, is known to be an expert.
Coinbase maintains that strong cryptography and security drive the industry growth. Secure multi-party computation, an advanced mathematics application, enables safe storage, transfer, and deployment of crypto assets.
The exchange says the MPC capabilities would support its new features for retail and institutional cloud products in the crypto space.