Coinbase buys on-chain ad platform Spindl
Coinbase has acquired on-chain ad platform Spindl, which will operate under Base, an Ethereum Layer 2 network developed by Coinbase. The acquisition is part of Coinbase’s efforts to expand its presence in the decentralized finance (DeFi) space.
Spindl allows users to create and display ads on blockchain-based platforms, providing a new way for businesses to reach their target audience. The platform’s on-chain nature ensures that ads are transparent and tamper-proof, giving users more control over their digital assets.
The acquisition is seen as a strategic move by Coinbase to strengthen its position in the DeFi market. By integrating Spindl into its ecosystem, Coinbase aims to provide a more comprehensive suite of services for users, including advertising and financial tools.
The deal is also expected to drive innovation in the DeFi space, as Spindl’s technology can be used to create new types of decentralized applications. Coinbase’s investment in Spindl is likely to attract more developers and users to the platform, further expanding its reach.
The acquisition is subject to regulatory approval and is expected to be completed in the coming months. Coinbase has not disclosed the terms of the deal, but the company has stated that it is committed to supporting Spindl’s mission to create a more transparent and secure digital economy.
