Vector.fun is a decentralized exchange on the blockchain Solana. The product’s users primarily trade memecoins and can follow other traders’ bets and investments. As part of the acquisition, Coinbase will shut down Vector.fun’s mobile and desktop trading apps, and hire the platform’s 13 employees.
Coinbase plans to use Vector.fun’s technology to expand the assets its users can trade on its app through decentralized exchanges. (This feature is separate from Coinbase’s core business of centralized trading.) Currently, the company only lets users trade tokens through exchanges built on top of Base, Coinbase’s own blockchain. The crypto exchange hopes to expand access to Solana, said Branzburg.
“The Coinbase app is really meant to be an agnostic platform to enable people to trade all of the assets they want to trade,” he added, referencing the company’s efforts to become what it calls the “everything exchange.”
“We’re seeing a lot of those opportunities where companies are just hitting a level of maturity, and technology is hitting a level of maturity where it makes sense for them to look to join forces with Coinbase,” said Branzburg.
While the crypto exchange weathered a tough 2022 and 2023 where it posted little to no profits, it rode the crypto bull market to build out its balance sheet with a profitable 2024 and 2025.
