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The acquisition was announced a day after the Senate Banking Committee sent letters to Coinbase and other companies to inquire about consumer protections and stablecoins. Investors included Xpring, SBI Crypto, East Ventures, Das Capital and OKWave. On Twittter, Coinbase said it’s doubling down on its investment in self-custody and Web3 “in pursuit of increasing economic freedom in the world.”īefore its acquisition, BRD had raised $54.8 million in venture capital funding, according to Crunchbase. They did add that BRD wallet users will have an optional migration path to self-custody with Coinbase Wallet in the future, which will also include an unspecified “special gift.” In a letter to users, co-founders Adam Traidman and Aaron Voisine said that at this time, nothing will change with the BRD wallet and that funds continue to remain safe and secure. The codebase for the app is open source and app users also receive BRD rewards based on usage, a form of tradable cryptocurrency.īRD the cryptocurrency surged sixfold, from 16 to 96 cents each, during trading today, Coindesk reported.
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The BRD app is available for iOS and Android in more than 170 countries and includes features such as iCloud key backup, customizable widgets, direct blockchain access and support in 14 languages.
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Along with the wallet, the company also supports cryptocurrency purchases, a commercial register, credit rating information, management tools, news and merchant services. has acquired cryptocurrency wallet startup Breadwinner AG, better known as BRD, for an undisclosed price.įounded in 2015, the company’s cryptocurrency wallet, previously known as Breadwallet and Bread, is a mobile-first wallet with more than 10 million customers and $20 billion in assets under protection.