Coinbase has acquired Liquifi, a token management platform used by Uniswap Foundation, Optimism, and Ethena, in its latest push to support crypto startups and expand its product suite for token issuers.

Terms of the deal weren’t disclosed, but Coinbase says the integration will support Coinbase Prime by adding automated tools for token vesting, distribution, and compliance. America’s largest crypto exchange says those have been pain points that often trip up early-stage projects.

“Launching a token isn’t just about writing smart contracts — it involves legal workflows, team allocations, and complex distribution logic,” said Greg Tusar, VP of Institutional Product at Coinbase. “Liquifi simplifies this, and this deal lets us work with builders earlier in their journey — even before a token is listed.”

Liquifi, based in San Francisco, says it supports over $8.5 billion in token value across more than 100 clients, processing $1.7 billion in token payouts globally last year. Founded in 2021, it raised over $5 million from backers like Dragonfly Capital and Katie Haun, and drew early support from Andreessen Horowitz’s Balaji Srinivasan.

Coinbase plans to fold Liquifi’s features directly into Coinbase Prime, giving corporate clients a streamlined way to issue, manage, and service digital assets from a single platform.

The acquisition is Coinbase’s fourth of 2025, following its $2.9 billion takeover of derivatives exchange Deribit in May, as well as earlier deals involving ad-tech firm Spindl and the privacy-focused network Iron Fish. That deal, if completed, could deepen Coinbase’s reach into the crypto derivatives space while tying in traditional financial instruments like tokenized treasurys.

It also comes amid a broader wave of crypto M&A. Last month, 0x acquired Flood to consolidate the DEX aggregator space, and David Bailey’s Nakamoto Holdings went public via a merger with KindlyMD.

The Liquifi acquisition adds to Coinbase’s toolkit at a time when competitors like Binance are rolling out launch platforms for tokens and early-stage DeFi projects. While Coinbase hasn’t said it’s building a full launchpad just yet, it’s clearly lining up the infrastructure.