Coinbase has acquired BRD crypto wallet firm to enhance its security with the company’s self-custody solutions.
BRD co-founders Adam Traidman and Aaron Voisine say users would continue transacting as usual on the wallet. The duo announced that users would be migrated to Coinbase Wallet self-custody eventually, and there would be a special gift.
The largest US crypto exchange views the self-custody crypto wallet as being valuable to its customers. Coinbase maintains that the investment would enable it to pursue its goals in Web 3.0 for increased economic freedom.
BRD’s utility token, Bread, surged 500% on Wednesday to $0.96, following the news of the acquisition deal.
BRD was founded in 2014 to be a decentralized, secure, and customer-centric wallet. The platform currently has more than 10 million users globally.