Coinbase acquires Echo in $375M deal to expand into crypto fundraising and tokenized securities

The company said it will start with crypto token sales through Echo’s Sonar platform, but it’s clear the long-term vision extends beyond that. Coinbase plans to eventually expand support to tokenized securities and real-world assets—an area that’s gaining traction as the lines blur between traditional finance and blockchain-based capital markets.

The timing of the deal reflects a renewed sense of optimism across the crypto industry. M&A activity has picked up as companies prepare for a friendlier regulatory environment under the Trump administration, which has promised to make the U.S. more hospitable to digital assets. Just last week, Kraken struck a $100 million agreement to acquire futures exchange Small Exchange, setting the stage to launch a fully U.S.-based derivatives suite, Reuters reported.

For Coinbase, this isn’t the first time it’s used acquisitions to expand its reach. Back in May, it completed a $2.9 billion deal for Deribit, one of the largest crypto options providers, filling a major gap in its derivatives offering and strengthening its international footprint.

With Echo now in its portfolio, Coinbase appears to be positioning itself as the go-to platform for everything from trading and derivatives to capital formation and tokenized assets—a sign that it’s betting big on the next wave of crypto innovation happening in plain sight.