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Coinbase to acquire 3 companies in bid to operate as regulated broker/dealer

Coinbase Inc. is acquiring Keystone Capital Corp., Venovate Marketplace Inc. and Digital Wealth LLC as it works on securing regulatory approval to operate as a broker/dealer, according to a post on The Coinbase Blog.

Through the acquisitions, the U.S. cryptocurrency exchange will gain a broker/dealer license, an alternative trading system license and a registered investment adviser license, Coinbase President and COO Asiff Hirji wrote in the blog post.

Coinbase seeks to secure the licenses in anticipation of the SEC's oversight of some blockchain-based digital assets, the CEO wrote. The licenses will allow Coinbase to offer future services such as crypto securities trading, margin and over-the-counter trading and new market data products, according to the blog post.

"Ultimately, we can envision a world where we may even work with regulators to tokenize existing types of securities, bringing to this space the benefits of cryptocurrency-based markets? — ?like 24/7 trading, real-time settlement, and chain-of-title," Hirji wrote.