Coinbase crypto exchange was involved in acquiring the mobile Ethereum wallet Cipher Browser. This is according to the announcement of the organizations on Friday.
Cipher browser is said to also offer a Web 3 decentralization app called Dapp browser. Therefore, it has merged most of the features they have with Toshi. Toshi is a decentralized mobile based browser which is a product of the Coinbase developers.
Additionally, the founder of the Cipher browser who is Peter Kim is set to be the new engineering head at Toshi during the time that the two applications will be integrating the features. This is according to the announcement.
Ciphers browser made a tweet;
“We’ll be merging many features of Cipher into Toshi. We’re committed to building the best Web 3 experience on mobile.”
Therefore, not even one side of disclosed the details of the acquisition. Rachel Horwitz who’s the communication vice president of Coinbase also made a statement. She said that the organization is “always looking to acquire the best teams and technologies in the crypto spaces,”
She then added;
“Given the similarity of our product visions, we’re happy to be joining forces with Pete, who will become head of engineering for Toshi alongside Sid Coelho-Prabhu, Coinbase’s product lead for Toshi. In coming weeks, we’ll merge certain features of Cipher into Toshi.”
Therefore, cipher browser in a tweet later made an announcement that the test nets would be regarded as one of the first features to be integrated to Toshi just after the completion of the merger.
Last month, Coinbase employed the previous LinkedIn executive Emilie Choi and became the new vice president of the business and corporate development. Therefore, one of her roles is to make sure that acquisitions and mergers are working well.