Coinbase Enhances Solana Trading with Vector Acquisition
- Coinbase has acquired the Solana-based meme coin trading app, Vector, to improve its on-chain trading experience.
- The acquisition includes Vector’s technology but excludes the Tensor marketplace and TNSR token, which will be managed by the Tensor Foundation.
- Vector users have until November 26 to transfer assets before the app is sunsetted, with a four-year period to export private keys.
- TNSR token prices surged over 300% in the past week despite a broader market selloff, now priced at $0.19.
- All unvested TNSR tokens, about 22% of supply, will be burned and additional vesting tokens relocked for three years.
Coinbase’s acquisition of Vector aims to enhance its DEX trading capabilities within the Solana ecosystem by integrating advanced technology from Vector’s platform. The deal does not affect Coinbase financially but strategically positions it to support all Solana assets with state-of-the-art trading features.
The acquisition marks Coinbase’s ninth this year as it continues expanding its portfolio and capabilities in the crypto space. (Source)
