• Coinbase acquires Vector, a decentralized exchange built on Solana
• Part of Coinbase’s 2025 plan to become an “everything exchange”
• Acquisition strengthens Coinbase’s DEX trading integration
• Follows several major 2025 purchases: Deribit, Echo, Spindle, Roam, Liquifi
• Coinbase is waiting for regulatory approval for a National Trust Company Charter
• Competition rising as Grayscale, Kraken, Gemini, and Bullish move toward public listings

Coinbase has added another major deal to its fast-growing list of 2025 acquisitions. The company announced that it will acquire Vector, a decentralized exchange (DEX) platform built on the Solana blockchain. Although the price of the acquisition was not disclosed, Coinbase said Vector will help strengthen its mission of becoming an “everything exchange.”

In its announcement, Coinbase explained that integrating Vector’s technology and team will support deeper DEX trading features, expanding the exchange’s reach into decentralized markets. The company also stated that the goal is to make it simple for anyone in the world to trade any crypto asset — whether through centralized systems or decentralized platforms.

This acquisition is part of a much larger expansion strategy. Throughout 2025, Coinbase has been aggressively buying companies across different sectors. Earlier this year, it acquired:

• Spindle, a blockchain-based advertising platform
• Roam, an online browser with crypto integration
• Liquifi, a digital asset management tool
• Deribit, a major crypto options trading platform
• Echo, a crowdfunding platform

These moves show Coinbase’s intent to expand its ecosystem and secure leadership across trading, payments, advertising, and decentralized finance.

At the same time, Coinbase is waiting for approval from U.S. regulators on its application for a National Trust Company Charter. Approval would allow Coinbase to offer more advanced custody and financial services, but the process is facing pushback from traditional banks. Several institutions argue that Coinbase is introducing “untested” forms of crypto custody that could disrupt traditional finance.

While Coinbase continues its acquisition spree, competition in the U.S. crypto market is heating up. More companies are preparing to go public, which could challenge Coinbase’s dominance. In recent weeks:

• Grayscale Investments filed documents related to a future public listing
• Kraken also made filings to go public
• Gemini, run by the Winklevoss twins, debuted its shares on Nasdaq in September
• Bullish, a crypto exchange and media company, went public on the NYSE in August

Coinbase became one of the first major U.S. crypto companies to go public back in 2021, but with more competitors entering public markets, the landscape is becoming more crowded. The Vector acquisition shows Coinbase is doubling down on innovation to maintain its lead — especially in areas where decentralized and Solana-based platforms are gaining traction.

Final Thought

Coinbase’s purchase of Vector reinforces its commitment to expanding into the decentralized trading space, especially on Solana. As the exchange pushes to become an all-in-one platform while navigating regulatory challenges, the competition from newly public crypto companies will make 2025 a defining year for market leadership.