Coinbase acquihires team behind BRD crypto wallet

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As crypto proponents seek to onboard a new generation of users, one of the major consumer onramps has been a host of consumer wallet apps with slick interfaces.

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Today, Coinbase announced that it’s bringing from the team BRD – A crypto wallet startup that first launched its mobile wallet in 2014. While the team is transitioning to Coinbase, the co-founders of BRD say that for the time being nothing will change for BRD users and that their wallets will continue to function normally and that users “funds are safe and secure.”

The wallet startup was an early player in the mobile crypto wallet space, which began as a place for users to store bitcoins, but also to support a wider network of tokens and partner with exchanges to convert cryptocurrencies. Evolved to support the ability to buy, sell and swap. The startup claims to have over 10 million users.

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“The team brings deep expertise in self-custodial to Crypto Wallet, which will enable Wallet to help more people access the decentralized world of crypto safely and securely,” a Tweet Coinbase Wallet reads from Twitter account.

BRD raised a substantial amount of venture capital funding, banking approximately $55 million in venture funding from firms such as SBI Crypto Investments and East Ventures.

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Coinbase and BRD did not disclose the terms of the acquisition.

Co-founders Adam Traidman and Aaron Voisin noted that they plan to create a “migration path” for users to move their wallet contents to the Coinbase Wallet app, but this will be completely optional for users.



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