Coinbase acquires BRD crypto wallet, seeks deeper study of self custody

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Coinbase, the biggest cryptocurrency exchange in the United States with billions in trading volume, has acquired a crypto wallet firm, BRD. The deal’s financial details remain behind the curtains as the exchange looks to improve upon its wallet services. 

According to the community letter on the BRD website signed by BRD co-founder and CEO Adam Traidman and co-founder Aaron Voisine, “nothing will change” in the BRD application or the way it works. 

“Today, we would like to share the news that members of our team will be continuing our mission at Coinbase, where we will work together to bring the power of decentralization to even more users around the globe,” said the BRD community letter.

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Coinbase account integration with BRD

As per the community letter, users will be able to safely link their Coinbase accounts with the BRD wallets without bringing any change in their day-to-day operations. But, this is a feature that will be available in the near future, and for now, users “may continue to transact normally.”

The partnership with Coinbase proved very beneficial to the BRD community as well as the native token of the platform, which climbed up by more than 500% in a single day, i.e., from $0.16 to $1.01 following the tweet by Coinbase.

In the tweet, the cryptocurrency exchange said that the acquisition of BRD is a very big step for the Coinbase Wallet because the BRD team will help the users to “securely access the decentralized world of crypto.”

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It is not the first time that the cryptocurrency exchange is acquiring another firm to improve its services. Previously TheCoinRise witnessed Coinbase acquire Indian Artificial Intelligence-based startup Agara to make its customer support more advanced.

The company is joining hands with many major institutions to work together and improve the customer experience. It recently shook hands with the esports gaming company Team Liquid to create fresh crypto-related content and point out the crossover between crypto-curious audiences and gaming.

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