Crypto exchange Coinbase announced Friday it has agreed to acquire Vector, a social trading app focused on meme coin markets, as the U.S. exchange moves to deepen its on-chain trading capabilities and expand support for Solana-based assets.
The company confirmed on Friday that Vector’s technology will be incorporated into Coinbase’s decentralized exchange integrations, forming part of a broader effort to improve speed, liquidity, and asset coverage across Solana markets.
Max Branzburg, Coinbase’s vice president of product, said the acquisition is aimed at accelerating the exchange’s goal of enabling rapid trading for newly issued Solana tokens.
In a post on X, he said Coinbase intends to “double down” on its Solana strategy by integrating the Vector team and its underlying infrastructure.
Vector was launched last year by the creators of Tensor, a Solana NFT marketplace.
While Coinbase is bringing Vector’s engineering team and tooling in-house, the Tensor marketplace itself will not become part of the exchange.
Ownership of Tensor will instead shift to the Tensor Foundation, the organization responsible for overseeing the Solana-based TNSR token.
Coinbase emphasized that it will remain separate from both the marketplace and the token.
Even so, TNSR drew attention earlier in the week after a sharp price jump that preceded the acquisition announcement.
The token has climbed more than 300% over the past seven days despite a broader market downturn, trading around $0.19, still far below its peak of $2.28.
The price activity has raised questions about whether some traders anticipated the news.
As part of the transaction, all unvested TNSR tokens held by Tensor Labs and its founders, roughly 22% of the token’s total supply, will be permanently burned.
Remaining vesting allocations have been extended for an additional three years.
Vector users will have until November 26 to move assets out of the app before it is retired on both mobile and desktop platforms.
Anyone who misses the deadline will retain access to their private keys for four years, allowing them to transfer funds to another wallet.
The Vector deal marks Coinbase’s ninth acquisition of the year.
The exchange purchased Echo, a crypto fundraising platform, for $375 million in October, though it recently stepped away from negotiations to acquire stablecoin platform BVNK, which had been valued at about $2 billion.