Coinbase, a major American cryptocurrency exchange, and wallet service has not acquired digital currency brokerage firm Tagomi.
On Nov. 29, sources BNC that Coinbase acquired Tagomi for $150 million that morning, following purported negotiations between the firms last month. According to The Block, Tagomi’s lending and borrowing services made it a tempting target for an acquisition.
Tagomi had reportedly been targeting more retail trading clients, high-net-worth individuals and active traders in recent months, which put it in competition with Coinbase’s professional offering, Coinbase Pro. A hypothetical merge would thus help Coinbase Pro enhance its share in the cryptocurrency market.