Coinbase (COIN) has acquired Echo, a startup targeted on on-chain capital formation, for about $375 million.
Based by a longtime crypto determine recognized by the pseudonym Cobie, Echo has helped tasks elevate greater than $200 million in almost 300 offers since its launch.
The platform permits startups to boost funding straight from the group, both privately utilizing a product referred to as Sonar, or via self-hosted public token gross sales.
In a press release asserting the acquisition, Coinbase stated the deal will assist it construct a “full stack” answer for crypto financing. For startups, this implies simpler entry to capital and instruments to tailor funding to their person base. For buyers, this opens the door to early-stage alternatives which have typically been gated behind personal networks.
“Echo will stay a standalone platform beneath its present branding for now, however we’ll combine Sonar's public sale product into Coinbase and sure introduce new methods for founders to entry buyers, and new methods for buyers to entry alternatives on Coinbase itself,” Covey stated on X.
Coinbase plans to increase Echo's infrastructure past cryptocurrencies and ultimately assist tokenized securities and real-world property, the corporate stated.
This acquisition enhances Coinbase's earlier acquisition of token administration platform LiquiFi. The alternate's transfer additionally comes after it spent $25 million to revive Cobie's UpOnly podcast.
