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COINBASE TO ACQUIRE LEADING CRYPTOGRAPHIC SECURITY COMPANY, UNBOUND SECURITY

Coinbase
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Nov 30 · 3 min read


 * Acquisition further underlines Coinbase’s commitment to providing the safest,
   most secure and most trusted venue for anyone to interact with the
   cryptoeconomy
 * Unbound’s best-in-class multi-party-computation expertise will play a
   foundational role in Coinbase’s product and security roadmap
 * With the acquisition of Unbound Security, Coinbase will establish a tech
   center of excellence in Israel, one of the world’s most advanced technology
   hubs

From its earliest days, Coinbase has focused on protecting our customer’s assets
with the strongest, most sophisticated security technology in the world. Over
time, our approaches have evolved, but our objective has always been the same:
to provide the safest, most secure and most trusted venue for anyone to interact
with the cryptoeconomy.

Today, we’re announcing the next phase of our security journey with the
acquisition of Unbound Security. Based in Israel, it is a pioneer in a number of
cryptographic security technologies, including the emerging field of secure
multi-party computation (MPC), a highly advanced technology for which Unbound
Security’s co-founder, Yehuda Lindell, is a world leader. With this acquisition,
Coinbase not only gains access to some of the world’s most sophisticated
cryptographic security experts, including Unbound Security co-founder and
current Vice President of Research and Development, Guy Peer, who brings more
than 20 years of experience in cryptographic security, but also a presence in
Israel, a well-established and rapidly growing technology hub. This presence in
Israel will add an additional powerful prong to Coinbase’s global talent
acquisition strategy, following on closely to recent thrusts into engineering
talent bases such as India, Singapore and Brazil.

Crypto can’t grow without strong cryptography and strong security, but it also
needs to be user friendly. Secure multi-party computation is an application of
advanced mathematics to enable crypto assets to be stored, transferred and
deployed more securely, easily and flexibly than ever before.

The cryptoeconomy is growing exponentially with myriad new use cases such as
staking, DeFi, DAOs and NFTs. Unfortunately so are the threat vectors and
complexities for participants to safely manage their crypto private keys.
Technologies such as MPC will enable these groundbreaking use cases to come to
life safely, securely and in a way that’s user friendly. MPC will deliver on
this by protecting our customers’ assets with a technique that provides the
virtually impenetrable nature of cold, offline storage, with the frictionless
convenience of hot, online wallets. Over time MPC capabilities will enable new
features across our consumer, institutional and cloud products to participate in
the cryptoeconomy.

In addition to the technological expertise that we will gain through this
acquisition, we also plan to establish a tech center of excellence in Israel
that will ensure that Coinbase is always at the bleeding edge of security and
blockchain technology. We’ve long recognized Israel as a hot bed of strong
technology and cryptography talent, and are excited to continue to grow our team
with some of the best and brightest minds in these fields. The Unbound Security
team will form the nucleus of this new research facility, which we plan to grow
over time.

We’re always proud to welcome top talent to Coinbase and the Unbound Security
team represents the very best expertise in its field. We look forward to working
with them over time to move the entire state of cryptographic security forward
and to continue delivering the highest levels of security to our customers.
Please join us in welcoming the team to Coinbase.

This acquisition is subject to customary closing conditions and is expected to
close in the coming months.


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Our mission is to increase economic freedom in the world. Visit us at
https://www.coinbase.com/

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THE COINBASE BLOG

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Learn about working at Coinbase: https://www.coinbase.com/careers

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Written by


COINBASE

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Our mission is to increase economic freedom in the world. Visit us at
https://www.coinbase.com/


THE COINBASE BLOG

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Learn about working at Coinbase: https://www.coinbase.com/careers




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