Coinbase announced the acquisition of the BRD wallet developer.
Coinbase sees the deal as a push to embrace Web3 and attract more crypto enthusiasts, targeting BRD's 10 million existing users.
Coinbase plans to leverage BRD’s “unique expertise and combine the BRD and Coinbase Wallet development teams. There are no plans for changes to the BRD application at this stage. Additional Coinbase Wallet tools will soon join the BRD functionality. Coinbase expects to add new functionality as early as 2022
Financial details of the acquisition have not yet been disclosed. Against the backdrop of the news, the rate of the BRD coin with a 14 million capitalization soared by 543%.
BRD was one of the first wallets that provided the ability to store, send and receive Bitcoin in 2014. In recent years, the wallet has expanded the list of supported crypto-assets and operations with them.
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