Coinbase Acquires Digital Identity Startup Distributed Systems

San Francisco-based exchange Coinbase is expanding its blockchain ecosystem to prepare for the onset of a regulated digital economy. To support its expansion efforts, Coinbase has acquired digital identity startup Distributed Systems. Coinbase Doubles Down on Digital Identity Coinbase, a digital asset exchange, has acquired digital identity startup Distributed Systems, according to a blog post released Aug. 15. Founded in 2015, Distributed Systems is a decentralized identity solutions company working toward achieving an “open financial system for the world” through its identity standard for decentralized applications (dApps), called the Clear Protocol. Under the terms of the agreement, Distributed System’s five-person team will merge with Coinbase and begin working on the company’s new Coinbase Wallet and “Login with Coinbase” product, which will allow dApp developers to easily integrate identity platforms for users to register and connect their crypto wallets. CEO Nikhil Srinivasan and co-founder Alex Kern will head the new decentralized identity

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