“Nothing will change in the BRD wallet software, and your assets will remain safe and secure as always,” as coinbase purchases BRD, CEO Adam Traidman and co-founder Aaron Voisine explained.
Following its purchase by prominent US crypto exchange Coinbase, crypto wallet service BRD stated that “nothing will change” for consumers.
CEO Adam Traidman and co-founder Aaron Voisine wrote to BRD users on Wednesday, saying that some of the company’s employees will be going to Coinbase to continue working on crypto wallets. The inclusion of the BRD team, according to Coinbase Wallet, will “help speed web3 adoption” and give “strong knowledge in self-custody.”
“Nothing will change in the BRD wallet app, and your funds will remain safe and secure as always,” the BRD executives added. “In the future, BRD wallet users will have the option of migrating to Coinbase Wallet for self-custody.”
BRD is the firm behind Bread, formerly known as Breadwallet, a utility token (BRD). The afterword of the Coinbase acquisition surfaced, the price of the token rose by more than 500 percent in two hours, jumping from $0.16 to $1.01.
In June, BRD announced a number of enhancements for 2020, including a wallet update that allowed storage of Hedera Hashgraph’s HBAR coin. In September, the company teamed up with Ciphertrace, Chainalysis, Elliptic, and Unbound Tech to help launch its data integration platform, which is utilized by financial institutions and crypto businesses looking to provide custody services.