Coinbase is in early talks to acquire rental startup Omni, according to report by TechCrunch.
The cryptocurrency exchange plans to acquire Omni for its engineering talent to work on the Coinbase Earn product. Omni originally started off as a storage service provider before pivoting to enabling users to borrow items from other users on its platform.
A Coinbase representative told TechCrunch that there’s currently no official deal on the table.
Omni has raised a total of $35M from investors including Flybridge, Highland, and Founders Fund. In 2018, the firm raised $25M from Ripple.