Coinbase, the leading crypto exchange, is planning another acquisition in what will be the most active year for mergers and acquisitions. In a recent blog post, the exchange announced that it has entered into an agreement to acquire Vector, an on-chain trading platform built on Solana.
Expanding on-chain trading
This move gives traders access to one of crypto’s most active, high-speed trading ecosystems. According to Messari, Solana’s decentralized exchange (DEX) volume has already surpassed $1 trillion by 2025.
“This acquisition will help make Coinbase the best place to trade by increasing asset availability and improving the asset trading experience through our DEX trading integration in Coinbase,” said the stock exchange.
Vector’s team brings deep Solana-native expertise and technology that can detect new assets as they are created on-chain or launched via major launch pads. This technology will be integrated into Coinbase’s DEX to improve speed, liquidity, and access to a broader range of assets in the Solana ecosystem.
Currently, users can only trade tokens on exchanges built on Coinbase’s proprietary blockchain, Base. The fair hopes to further expand access to Solana. The deal is expected to close by the end of the year, pending customary closing requirements.
As part of this integration, the current mobile and desktop apps will be retired. Tensor Foundation, which operates the Tensor protocol, will remain independent and continue to oversee the Tensor NFT marketplace and its native token, which will also remain independent and unaffiliated with Coinbase.
Towards an “Everything Exchange”
“The Coinbase app is really intended to be an agnostic platform that allows people to trade whatever assets they want to trade,” Max Branzburg, Coinbase’s vice president of product management, said Fortune.
Branzburg emphasized that combining the depth of Vector with the scale of Coinbase will open a new chapter of open, accessible, global commerce.
Coinbase is working towards becoming an ‘all exchange’, a single platform where users can trade everything on-chain with faster, cheaper and always-accessible markets.
Growing trend in crypto mergers and acquisitions
Notably, this is Coinbase’s ninth acquisition in 2025.
It bought crypto derivatives exchange Deribit for $2.9 billion in May, and in October it paid $375 million for ICO platform Echo. It also planned to buy stablecoin company BVNK for around $2 billion. However, that deal was called off in November.
Coinbase isn’t the only one buying startups. According to Architect Partners, crypto mergers and acquisitions exceeded $10 billion in the third quarter of 2025.
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