In a move to accelerate its on-chain consumer roadmap, Coinbase has acquired the founding team of Sensible, a company specializing in building decentralized finance, or DeFi, applications. The acquisition aims to strengthen Coinbase’s push to simplify DeFi for consumers and expand its “everything exchange” vision.
Coinbase operates as a cryptocurrency platform, providing a one-stop shop for users to buy, sell and manage various digital assets. The company’s vision is to make finance more open and accessible through on-chain technology, with services such as crypto-backed loans via non-custodial smart wallets and staking for earning rewards on assets.
Looking ahead, the acquisition aims to advance Coinbase’s long-term goal of becoming a comprehensive financial platform and the number one financial app. By integrating the Sensible team’s expertise, Coinbase plans to reduce the complexity of DeFi tools, including decentralized lending, staking and rewards programs, and make on-chain finance more broadly accessible.
