Coinbase, the U.S.-based cryptocurrency commutation, has made another strategic acquisition — this time in the critical field of blockchain infrastructure.

The visitor announced Tuesday that it had acquired Bison Trails, a fully managed blockchain infrastructure provider, in a deal that provides a "foundational element" within its growing ecosystem of products.

Coinbase said:

"By joining forces, we aim to bring the avant-garde applied science that the Bison Trails team has developed — and continues to develop — to more than projects and more than companies effectually the earth."

Bison Trails will continue to operate as a standalone product, Coinbase said.

Founded in 2018, Bison Trails has carved out a strong reputation in the blockchain manufacture. Last November, Bison Trails launched its QT protocol allowing developers to build on the forthcoming Diem blockchain, a protocol that was initially proposed by Facebook. The company also pioneered new technology that addresses so-called slashing penalties associated with double signing messages, which is considered one of the biggest risks of blockchain participation.

Joe Lallouz, Bison Trails' CEO, tells Cointelegraph that he and co-founder Aaron Henshaw officially unveiled their company to the world in Mar 2019. At the fourth dimension, Bison Trails was marketed every bit the start "infrastructure as a service company designed for adjacent-generation blockchain networks."

"It'south remarkable to await dorsum at that announcement postal service and recognize how petty of our arroyo changed in the time since, despite the rapid growth and evolution of the ecosystem," he said.

He continued:

"Nosotros are incredibly excited to join Coinbase as a standalone production line in the Coinbase portfolio, an anchor of Coinbase'due south third pillar of crypto services for developer tools and ecosystem advancement."

As for Coinbase, the leading crypto exchange has been consolidating its already strong industry position ahead of an expected initial public offering later this year. As Cointelegraph reported earlier this month, Coinbase recently acquired the Routefire platform — a movement that could significantly boost merchandise execution and assist protect confronting severe outages during periods of volatility.

Coinbase boasts of more than 35 million verified users in over 100 countries. The visitor has reported cumulative trade volumes in excess of $320 billion, offering farther validation that digital asset markets are here to stay.