Major cryptocurrency exchange and wallet provider Coinbase has acquired Andreessen Horowitz-backed tech startup Blockspring. The acquisition was disclosed during a blog post published January. 14.

San Francisco-based Blockspring produces tools that enable developers to automatically gather and process data from application programming interfaces (APIs).

In 2015, the corporate raised $3.4 million in a round led by capital firm Andreessen pianist and seed-stage investment company SV Angel, whereas additionally having support from venture fund Y Combinator.

Following the acquisition, Blockspring will reportedly continue operating as an independent entity, whereas any changes to its business won't be binding on the company’s current and new customers.

Last month, Top Market Group reported that a brand new application filed by Coinbase with the U. S. Patent and Trademark office (USPTO) revealed that the exchange is seeking to trademark the crypto-industry term “BUIDL.”

The application revealed that Coinbase’s “BUIDL” software as a service (SaaS) solutions would come with “software for managing, buying, selling, storing, transacting, exchanging, sending and receiving virtual currency.” Later in Dec, it was reported that Coinbase decided to drop its application.

In August, Coinbase acquired San Francisco-based startup Distributed Systems INC., that works on decentralized identity solutions. With the new acquisition, Coinbase can supposedly work toward a decentralized identity system which will “let you prove that you own an identity, or that you just have a relationship with the Social Security Administration, while not creating a replica of that identity.”

According to Top market Cap information, Coinbase is ranked 39th largest exchange in the world, with nearly $68 million in daily trade volume as of press time.

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