Coinbase to acquire Unbound Security to utilize cryptographic security tech

Crypto exchange Coinbase (NASDAQ:COIN) will buy Israel-based cryptographic security company Unbound Security with plans to set up a new research facility in the Middle Eastern country, the company says in a blog post. Unbound Security specializes in advanced security technologies including the emerging field of secure multi-party computation ("MPC). Terms of the deal were not disclosed. Over time, MPC capabilities will allow new features across the company's consumer, institutional and cloud products to participate in the cryptoeconomy. Coinbase's (COIN) presence in Israel, a well-established and growing tech hub, will add a more powerful "prong" to the company's global talent acquisition strategy, the company says. Shares of COIN rise nearly 3% intra-day. Last week, Coinbase acquired BRD to accelerate its web3 adoption.