Coinbase acquires SBI-backed crypto wallet company ‘BRD’
Popular crypto exchange Coinbase has acquired Crypto wallet provider BRD and the team behind it, Coinbase announced on Twitter.
As per the latest announcement, no major changes will occur in the wallet, except that some of the team members would shift to Coinbase to continue working on crypto wallets. BRD will work on Coinbase to enable more people to enjoy the benefits of a decentralized system.
“The team brings deep expertise in self-custody for crypto wallets, which will help Wallet enable more people to safely and securely access the decentralized world of crypto,” the exchange wrote on Twitter.
GM!
We have great news – the BRD team will be joining @CoinbaseWallet to help accelerate web3 adoption. The team brings deep expertise in self-custody for crypto wallets, which will help Wallet enable more people to safely and securely access the decentralized world of crypto.
— Coinbase Wallet (@CoinbaseWallet) November 24, 2021
According to its official website, BRD wallets are used in over 170 countries and support 14 languages. Since its launching in 2014, the number of BRD wallets has increased to over 10 million. Moreover, the wallet is currently compatible with more than 70 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), XRP (Ripple), and Shiba Inu Coin (SHIB).
Adam Traidman, Co-founder and CEO of BRD, said in a letter to the wallet community:
“At this time, nothing will change in the BRD wallet app and as always, your funds are safe and secure. You may continue to transact normally. In the future, BRD wallet users will have an optional migration path to self custody with Coinbase Wallet, which will include a special gift. Stay tuned for more details to come in 2022.”
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OhNoCryptocurrency via https://www.ohnocrypto.com/ @Gauri Bhatia, @Khareem Sudlow