Crypto exchange Coinbase acquires Cipher Browser

Monday, April 16, 2018 4:00 AM UTC

Crypto startup Coinbase last week announced the acquisition of mobile ethereum wallet Cipher Browser, CoinDesk reported.

Cipher Browser is a mobile dapp browser and wallet for the Ethereum blockchain. It allows user to interact with dapps powered by Ethereum on their mobile device and makes it easy to securely store, send and receive Ether and ERC20 tokens. In addition, Cipher Browser also offers a Web 3 decentralized app (Dapp) browser.

Cipher Browser said that it would merge many of its features with Toshi, a decentralized mobile browser launched by Coinbase developers. Furthermore, Cipher Browser founder Peter Kim will take on the position of the new head of engineering at Toshi.

Exciting news! @CipherBrowser is joining @Coinbase!@petejkim will become head of engineering for @Toshi and we'll be merging many features of Cipher into Toshi.

We're committed to building the best Web 3 experience on mobile.

We can't wait for what we can all build together! pic.twitter.com/2XuuPqD6fp
— Cipher Browser for Ethereum (@CipherBrowser) April 13, 2018

Coinbase is "always looking to acquire the best teams and technologies in the crypto spaces," Coinbase's vice president for communications Rachel Horwitz told CoinDesk. "Given the similarity of our product visions, we're happy to be joining forces with Pete, who will become head of engineering for Toshi along side Sid Coelho-Prabhu, Coinbase's product lead for Toshi. In coming weeks, we'll merge certain features of Cipher into Toshi."