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Coinbase’s acquisition of data analytics platform

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Coinbase, the leading cryptocurrency exchange, has announced to acquire Skew. Skew is data analytics platform for cryptocurrencies. The platform also provides trade execution services. Skew was created with the aim of increasing transparency in the cryptocurrency market and also to help institutional adoption by giving them the opportunity to employ data analytics.

Coinbase had recently gotten listed on NASDAQ which was a hallmark event in the cryptocurrency market. The cryptocurrency giant has set a precedent for other crypto exchanges and others have hinted to follow suit.

The NASDAQ listing of Coinbase has also been an important step in the adoption and wider acceptance of cryptocurrencies as the crypto exchange will now provide unparalleled opportunities in the crypto sphere.

With the help of the data analytics from Skew, Coinbase aims to integrate the real-time data from the network to allow users on Coinbase to improve trade of crypto spot and derivatives markets. The market data which will now be made available to traders on Coinbase will enable better trading decisions. The integration of Skew into Coinbase may mark the next phase of technological innovation in the cryptocurrency sphere as sectors and industries throughout the world are realizing the importance of data analytics and are still in the phase of completing integrating data analytics and data science.

Greg Tusar, the vice president of the institutional products at Coinbase, broke the news of the acquisition. Skew had Coinbase had also been partners ever since the data analytics’ platform’s launch and the acquisition is set to take the partnership to newer heights. The acquisition is also said to be an opportunity for Skew to grow and flourish with increased focus on research and development and having access to the resources of Coinbase.

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