The company said the acquisition will help it scale up prediction markets on its platform and accelerate its roadmap toward being the “Everything Exchange.”
Coinbase Global Inc. (COIN) on Monday announced that it has entered into a definitive agreement to acquire The Clearing Company as it looks to bolster its recently announced prediction markets offering.
The company stated that The Clearing Co.’s team brings deep expertise to help scale up prediction markets on its platform, adding that this will accelerate its roadmap toward being the “Everything Exchange.”
“Toni and the team will help scale world-class prediction markets trading on Coinbase and accelerate our ambitions for this exciting category as part of the Everything Exchange,” Coinbase stated in its announcement.
Coinbase shares were up more than 3% in Monday’s opening trade. Retail sentiment on Stocktwits around both companies trended in the ‘bullish’ territory at the time of writing.
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