Coinbase acquired Crypto Data Analytics startup Skew

Coinbase is now acquiring Skew, a crypto data analytics, and crypto trade execution services startup. Coinbase has been a client for Skew's skewAnalytics offering for a long time, notes the announcement.

Founded in 2018, London-based Skew offers data analytics products to bridge the gap between institutional finance and cryptocurrency markets. The crypto data analytics firm now serves more than 100 hedge funds, trading firms, banks, and exchanges. Some of Skew'scustomers include One River Asset Management, Susquehanna International Group, and Galaxy Digital.

The Skew acquisition also helps Coinbase in providing real-time actionable data analytics to institutions and traders.

We’re excited to announce the acquisition of @skewdotcom a leading institutional data analytics platform. https://t.co/5PMqOj8Oq8

— Coinbase News (@CoinbaseNews) April 30, 2021

The Skew team's blog post announcement said, "While joining Coinbase represents an unparalleled opportunity for skew’s continued growth, we remain acutely focused on supporting our clients and working with our ecosystem partners. We believe our client commitment and offering will only be further enhanced by partnering with Coinbase."

In a blog post announcement, Coinbase Vice President, Institutional Product, Greg Tusar, said, "We are excited to welcome the skew team and their customers to Coinbase. Together, we’ll continue to unlock institutional participation in the cryptoeconomy."

Skew is the latest crypto space acquisition from Coinbase after its listing on Nasdaq. Coinbase was working with Skew to help them in making cryptocurrency accessible to both retail and institutional customers globally. 

The acquisition will also help the Skew team with resources to accelerate the pace of its crypto data analytics platform development and support the crypto product roadmap. The Skew team also noted a strong alignment between skew and Coinbase cultures.

Coinbase in their announcement also noted that it will keep on serving customers of skew’s analytics product. Skew also complements Coinbase’s prime offering and will help Coinbase crypto customers with informed trading decisions, notes the announcement.

Coinbase intends to integrate Skew’s crypto data analytics platform with Coinbase Prime. The integration with Coinbase Prime will allow Coinbase customers to track cryptocurrency spot and derivatives markets in real-time.