Coinbase acquires Echo to expand into onchain fundraising platform

Coinbase Global Inc (NASDAQ: COIN) has acquired Echo, an onchain platform that facilitates community-driven investing and fundraising for cryptocurrency projects. The acquisition allows Coinbase to expand its services into early-stage fundraising and private token sales.

Echo, founded by crypto investor Cobie, operates tools that enable projects to raise capital directly from their communities through private sales or self-hosted public token sales using its Sonar product. The platform has facilitated over $200 million in fundraising across approximately 300 completed deals since its launch.

The acquisition integrates Echo's fundraising infrastructure with Coinbase's existing services, which include exchange listings, custody, staking, and trading. Coinbase stated it plans to initially focus on crypto token sales through Sonar and later expand to support tokenized securities and real-world assets.

Echo's Sonar product enables self-hosted public token sales and recently supported the XPL token sale for Plasma. The platform allows cryptocurrency projects to raise funds without traditional intermediaries by connecting directly with community investors.

The acquisition follows Coinbase's recent purchase of Liquifi, which provides token creation and cap table management services for early-stage teams. Combined with Echo's fundraising capabilities, Coinbase aims to offer comprehensive services spanning the entire lifecycle of cryptocurrency projects from launch through secondary market trading.

Financial terms of the Echo acquisition were not disclosed in the company's announcement.

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