Coinbase, a major American cryptocurrency exchange and wallet service, has not caused digital currency brokerage business firm Tagomi.

On Nov. 29, sources told CoinDesk that Coinbase caused Tagomi for $150 million that morning time, following purported negotiations between the firms last calendar month. According to The Block, Tagomi's lending and borrowing services made it a tempting target for an acquisition.

Responding to Cointelegraph'south request for annotate on the purported acquisition, Coinbase VP of communications Rachael Horwitz simply said, "100% false."

Tagomi had reportedly been targeting more retail trading clients, high-net-worth individuals and agile traders in recent months, which put it in contest with Coinbase's professional offering, Coinbase Pro. A hypothetical merge would thus aid Coinbase Pro enhance its share in the cryptocurrency market.

Tagomi expands its services

Tagomi, meanwhile, has been actively expanding its services. The business firm recently partnered with Binance'south cryptocurrency trading platform for United States-based users, Binance.US. The cooperation enables Binance.US to offer institutional liquidity for Tagomi'southward users, including quant funds, venture funds, family offices, individual retirement accounts and loftier-cyberspace-worth individuals.

In September, Tagomi enabled its users to lend or infringe Bitcoin (BTC) and Ether (ETH) to facilitate long or brusque trades.

Tagomi besides secured a BitLicense from the New York State Section of Financial Services in late March, which fabricated it legally authorized to trade virtual currency assets and to engage in money manual in the state.

This leap, the business firm secured $12 million in a funding round with investors including the Image Fund and crypto industry giant Pantera Capital.