Coinbase may purchase cryptocurrency startup financed by Ripple
- Omni raised financing in the amount of $25 mullion from Ripple in 2014.
- Now the company may be purchased by the US-based cryptocurrency exchange.
The largest US-based cryptocurrency exchange Coinbase is in talks to acquire p2p platform Omni, TechCrunch reports citing knowledgeable sources.
Omni is a startup that raised $25 million in investments from Ripple back in 2014. The project positions itself as a digital marketplace of rentable goods where people can search for physical goods like sports gear, bikes, scooters etc and rent them for temporary usage in their local area.
The service currently available in the San Francisco Bay Area, New York City, Los Angeles, and Portland.
However, the startup seems to be navigating through rough times as the company was forced to sell its warehouse function to Clutter and fire staff.
Allegedly, Coinbase wants to purchase the startup and attract its users to its Coinbase Earn project where users can earn cryptocurrency by answering questions about digital assets. At this stage, the company has not confirmed the deal yet.
Recently, Coinbase raised trading fees for low-volume customers on its Coinbase Pro platform.
Author
Tanya Abrosimova
Independent Analyst
