Coinbase Completed Acquisition Of Crypto Wallet Provider BRD

By Warren Hayes | November 25, 2021

Top-tier crypto exchange platform Coinbase has reportedly completed the acquisition of the digital wallet provider BRD. 

Specifically, Adam Traidman and Aaron Voisine – respectively the current Head and founder of BRD – have reportedly revealed via a public newsletter, that a few staff from the firm would be relocated to Coinbase to keep on their progress on crypto wallets. 

Per BRD, there will be no significant changes to the current process the customers are familiar with following the newly finalized merger. 

Coinbase Wallet additionally took to Twitter to disclose that the inclusion of the BRD team would “help accelerate web3 adoption”, along with offering “deep expertise in self-custody.”

“Nothing will change in the BRD wallet app and as always, your funds are safe and secure. In the future, BRD wallet users will have an optional migration path to self custody with Coinbase Wallet.” the BRD execs further remarked. 

Previously regarded as Breadwallet, BRD is the creating entity of the utility token Bread (BRD). Per insights generated by CoinMarketCap, the token price experienced an over 500% increase, in under  two hours of the announcement of Coinbase acquiring BRD surfacing, going from around $0.16 to $1.01.

BRD reportedly revealed details of a few expansions last year, including updating its wallet compatibility to enable safekeeping of Hedera Hashgraph’s HBAR token in June.

In September, the company reportedly teamed up with Ciphertrace, Chainalysis, Elliptic and Unbound Tech to provide assistance in rolling out its data integration platform, utilized by financial establishments and crypto entities, having plans down their pipeline to offer custody solutions.

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