Coinbase acquires crypto wallet provider BRD’s team as utility token price surges 500%

Crypto pockets supplier BRD stated “nothing will change” for customers following an acquisition from main U.S. crypto alternate Coinbase.

In a Wednesday letter to BRD customers, CEO Adam Traidman and co-founder Aaron Voisine stated a number of the firm’s workforce members can be shifting to Coinbase to proceed engaged on crypto wallets. Coinbase Pockets said on Twitter that the addition of the BRD workforce would “assist speed up web3 adoption” in addition to present “deep experience in self-custody.”

“Nothing will change within the BRD pockets app and as all the time, your funds are secure and safe,” stated the BRD execs. “Sooner or later, BRD pockets customers can have an elective migration path to self custody with Coinbase Pockets.”

Previously referred to as Breadwallet, BRD is behind the utility token Bread (BRD). In keeping with information from CoinMarketCap, the token worth surged greater than 500% inside two hours of reports of the Coinbase acquisition breaking, growing from roughly $0.16 to $1.01.

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BRD introduced a lot of expansions in 2020, together with updating its pockets compatibility to permit storage of Hedera Hashgraph’s HBAR token in June. In September, the agency partnered with Ciphertrace, Chainalysis, Elliptic and Unbound Tech to assist introduce its information integration platform utilized by monetary establishments and crypto corporations contemplating offering custody options.