Coinbase announced today that it is set to acquire Bison Trails, a blockchain infrastructure provider.

According to the announcement, Coinbase sees Bison Trails' tech as key to future growth:

"Similar to how in the traditional Web paradigm, reliable managed infrastructure unleashed a wave of innovation, our strategy is to offer turn-key solutions to power distributed and scalable crypto infrastructure, enabling the innovators and builders of tomorrow to do what they do best: build," the release stated.

"This will help drive one of the greatest transformations in finance in the last hundred years, and will drive us closer to achieving our mission of creating an open financial system."

Coinbase Ventures first invested in Bison Trails in 2019. Bison Trails and Coinbase's various businesses have been close ever since. Both Bison Trails and Coinbase Custody joined the Proof of Stake Alliance in early 2020, for instance. And both are members of Facebook's Diem (formerly Libra) Association.

The exchange will maintain Bison Trails as a separate brand and product.

Bison Trails is an infrastructure-as-a-service company that allows people to remotely run nodes on other blockchain protocols. It currently supports major blockchain protocols such as Ethereum 2.0, Tezos, and Polkadot.

In its own announcement, Bison Trails said it would "stay committed to our mission to provide superior infrastructure on multiple blockchains, to strengthen the ecosystem, and enable the pioneers of tomorrow."