Leading crypto exchange Coinbase has acquired crypto wallet company BRD, according to statements from both firms. After that, the BRD token rose over 600 percent.
BRD team to join Coinbase wallet
BRD announced today that its team will join Coinbase, where it will contribute to the company’s Coinbase Wallet. The app was first launched in 2014 under the name “breadwallet” and has grown to a user base of 10 million. BRD has suggested that for the time being, its own wallet will continue to function normally and users will be given the option to switch to Coinbase’s wallet in 2022.
The team behind BRD will join the team behind Coinbase Wallet. The exchange noted that BRD has “bring in deep expertise in self-storage for crypto wallets” and that the acquisition is part of its goal to “double its investment in self-custodial and Web3.” It is unclear how the BRD team will replace Coinbase’s wallet. Although BRD offers custody for crypto funds, Coinbase Wallet already supports this feature unlike many other exchange wallets. BRD price in the last 24 hours after this big news of 650 percent rose above. The price of the coin, which changed hands from $0.16 yesterday evening, rose to $1.67 during the day. It’s changing hands at $1.33 at the time of writing.
cryptocoin.com As we reported, in recent months, Coinbase has also acquired wallet interoperability company Zabo, blockchain infrastructure company Bison Trails, and crypto data analytics company Skew. On the other hand, Adidas also announced a partnership with Coinbase today, but has revealed few details about its plans.
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