Coinbase has strengthened its position in the tokenization market by announcing the acquisition of the token management platform Liquifi. Liquifi serves key industry players, including Uniswap Foundation, OP Labs, Ethena, and Zora. The financial details of the deal remain confidential, but this marks the exchange’s fourth major acquisition in 2025.
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New Opportunities for Crypto Projects
Liquifi offers solutions for automating token distribution after vesting periods, tracking ownership stakes, and calculating tax withholdings. The platform is positioned as a counterpart to Carta, but for the cryptocurrency market, and has gained popularity among Web3 companies after raising $5 million in funding in 2022 led by Dragonfly.
“We are fully committed to Liquifi and completely on their side,” said Coinbase’s Director of Corporate Development, Aklil Ibssa, in a comment to Fortune.
Before finalizing the deal, Coinbase conducted a thorough audit of the company. The acquisition amount is not disclosed, but it has become the fourth for the exchange in 2025, alongside the purchase of Spindl (an on-chain advertising service), Iron Fish (a privacy-focused blockchain), and Deribit (a cryptocurrency derivatives platform), the latter of which was acquired for $2.9 billion—a record for the industry.
Legal Situation and Strategic Prospects
In December 2024, Liquifi’s competitor, Toku, filed a lawsuit accusing the startup of colluding with a former employee and unlawfully obtaining confidential information. Liquifi has denied the allegations, and Coinbase has openly supported the company in this situation.
“Token creation and cap table management are part of the cryptocurrency lifecycle. If we want to bring a billion people into Web3, this process needs to be simpler and less broken,” explained Ibssa.
The acquisition of Liquifi allows Coinbase to build a comprehensive platform that will provide clients with a complete tokenization cycle—from the creation of digital assets to their listing on exchanges. This way, the company is adapting to the competitive model of launchpad platforms like Binance and OKX, which begin earning even before the official launch of tokens.
Despite the fact that the U.S. Securities and Exchange Commission, under Gary Gensler, previously classified most cryptocurrencies as securities, Ibssa noted that the acquisition of Liquifi would have occurred even in such a regulatory environment. At the same time, the new administration of U.S. President Donald Trump is creating favorable conditions for the market.
“Regulatory clarity allows us to take bolder steps,” emphasized Ibssa.
The market is seeing increased activity: Stripe recently acquired the startup Bridge for $1.1 billion and the crypto wallet Privy. Earlier, Coinbase obtained a license under the MiCA regulation to operate in the EU.