Cypto News: Coinbase Purchases Vector, Doubles Down On Solana

Coinbase is expanding its reach in Solana’s on-chain markets through its acquisition of Vector, a Solana-based trading platform.

Coinbase continues buying companies as it pushes deeper into Solana’s onchain markets. 

Its latest move is the purchase of Vector, a Solana-based trading platform focused on scanning new tokens and tracking early trading activity. 

The exchange says this deal will help support more onchain assets for its users and bring fresh tools into its trading stack.

Coinbase’s Growing Acquisition Strategy

Coinbase announced the Vector purchase in a blog post. The company did not share the price, but confirmed that Vector’s team and tools will join the exchange. This adds to a long list of acquisitions that includes Deribit, Echo, Roam, Spindle and Liquifi.

Vector fits with Coinbase’s aim to develop what it describes as an “everything exchange.” 

The company wants to support more on-chain assets and make it simpler for users to find and trade them. Coinbase says the integration of Vector will help streamline DEX trading inside its products. 

The company believes this will give customers easier access to on-chain markets that continue to grow at a fast pace.

Coinbase also noted that the Vector team will join the exchange as part of the agreement. 

Once the integration finishes, Vector’s separate apps will shut down and Coinbase will absorb the technology into its trading interfaces so customers can use the new tools directly on the exchange.

What Vector Brings to Coinbase

Vector is a trading platform built for Solana. It scans the network for new tokens as soon as they launch. It tracks liquidity, trading activity and token movement. The platform sorts this information into a format that is easy to study and this helps traders follow early activity around new Solana assets.

Solana decentralised exchanges have seen strong activity so far this year. Research firm Messari reports that more than $1 trillion was processed in DEX volume this year. 

Coinbase wants to plug into that activity by routing more trades through Solana’s on-chain markets. Vector thus gives Coinbase a faster way to discover new tokens and match customers with Solana liquidity.

The exchange also addressed confusion between Vector and Tensor. Tensor is a separate Solana project led by founders linked to Vector. Coinbase stressed that it is not acquiring Tensor. 

Instead, the Tensor Foundation will continue to run the Tensor NFT marketplace and token.

Related Reading: Coinbase Adds Aster as Next-Gen DEX Gains Momentum

Coinbase’s Push Into On-chain Trading

Coinbase says it wants to make crypto trading simpler. It argues that bringing Vector into the company will help it connect customers to more assets on Solana. 

Vector’s indexing tools should help the exchange list new tokens at a quicker pace. They should also support more efficient routes for trades that move through Solana decentralised exchanges.

This is part of Coinbase’s vision to build a single platform for many forms of crypto trading. Its recent purchases cover areas such as options trading, advertising, crowdfunding and more. 

Vector now adds onchain scanning and indexing to that effort.

The exchange believes that new on-chain tools matter as more activity shifts toward decentralised environments. Many traders now use DEXs for fast liquidity, early token access and onchain transparency. 

Coinbase wants to meet this demand by embedding those environments into its trading experience.

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