Coinbase Acquires Ethereum Wallet Startup Cipher Browser

coinbase cipher browser

Cryptocurrency exchange powerhouse Coinbase has acquired Cipher Browser - an Ethereum mobile wallet and web browser in one. Cipher Browser is self-described as “the world’s first full-feature dapp browser and wallet for the Ethereum blockchain.”

Details of the acquisition have not been revealed, but Cipher Browser made the acquisition announcement via their official Twitter account, which Coinbase soon after confirmed by retweeting the original tweet.

Coinbase has a similar product, Toshi, which is also a decentralized web browser. The acquisition of Cipher Browser will bolster Coinbase’s own offering, with Cipher Browser creator Peter Kim joining Toshi as the new Head of Engineering.

According to the announcement, “many” of Cipher Browser’s features will be merged into Toshi, including support for testnets which was confirmed by Cipher in a later tweet responding to an inquisitive Twitter user.

Toshi also tweeted in response to the acquisition, saying that they are “excited to combine forces and build the best browser for the decentralized web.”

Both Cipher Browser and Toshi are currently available on the App Store for iPhone and Google Play store for Android devices, and both offer browsing of third-party dapps, storing, sending and receiving of Ethereum and Ethereum blockchain-based ERC20 tokens.

The acquisition comes just a week after Coinbase announced their new Coinbase Ventures program, which involves financing startups in the crypto space with high potential.