According to a Coinbase representative, the SEC and FINRA have authorized the company to acquire security dealers Keystone Capital Corp., Venovate Marketplace Inc., and Digital Wealth LLC. Initially, the San Francisco-cbased company announced the acquisition plans on June 6.
The acquisitions enable the firm to operate as a broker dealer, an alternative trading system, and a registered investment adviser, offering so-called security tokens and also placing the businesses under federal oversight.
The next step for Coinbase is integrating its technology into the new subsidiaries, the spokesman said, without providing a timeline. That means making sure employees have the proper licenses and reviewing how the company reports data and onboards customers.
Last week, Coinbase announced that it is exploring the addition of five new coins to its trading lists, including Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC), and 0x (ZRX).
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