Cryptocurrency wallet provider BRD said “nothing will change” for users following the acquisition of Coinbase, a major US cryptocurrency exchange, from the US-based cryptocurrency exchange.
In an email Wednesday to BRD users, CEO Adam Trademan and co-founder Aaron Fawazin revealed that some of the company’s team members will be switching to Coinbase to continue working with cryptocurrencies. Coinbase Wallet tweeted that the addition of the BRD team “will help accelerate Web 3 adoption” as well as provide a “deep self-defense experience.”
“Nothing will change in the BRD portfolio and, as always, your money is safe,” said BRD executives. “In the future, BRD wallet users will have an additional self-storage migration path with the Coinbase wallet.”
BRD, formerly known as Breadwallet, stands behind the Bread utility token (BRD). According to data from CoinMarketCap, the token price is up more than 500% in the two hours following news of the Coinbase acquisition, from roughly $ 0.16 to $ 1.01.
Related Topics: BRD CEO Rejects Cryptocurrency Until Andreessen Horowitz Answers Questions
BRD announced a number of extensions in 2020, including a wallet compatibility update that will allow the Hedera Hashgraph HBAR token to be stored in June. In September, the company partnered with Ciphertrace, Chainalysis, Elliptic and Unbound Tech to help offer a data integration platform used by financial institutions and crypto firms considering custody solutions.