Coinbase acquires the team behind the BRD crypto wallet – TechCrunch

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As crypto proponents seek to onboard a new generation of users, one of the main ramps for consumers has been a plethora of consumer wallet apps with fluid interfaces.

Today, Coinbase announced that it is bringing in the team from BRD – a crypto wallet startup that first launched its mobile wallet in 2014. As the team moves to Coinbase, the co-founders of BRD say nothing will change for BRD users at this time and that their wallets will continue to function normally and users “funds are safe”.

The wallet start-up was an early player in the mobile crypto wallet space which started out as a place where users can store bitcoin, but has grown to support a large token network. and the ability to buy, sell and trade cryptocurrencies through partnerships with exchanges. The startup claims to have more than 10 million users.

“The team brings in-depth expertise in self-custody of crypto wallets, which will help Wallet allow more people to securely access the decentralized world of crypto,” read a tweet from Coinbase Wallet Twitter account.

BRD has raised a significant amount of venture capital funding, cashing in nearly $ 55 million in venture capital funding from companies such as SBI Crypto Investment and East Ventures.

Coinbase and BRD have not disclosed the terms of the acquisition.

Co-founder Adam Traidman and Aaron Voisine note that they plan to create a “migration path” for users to transfer content from their wallet to the Coinbase Wallet app, but that it will be entirely optional for users.

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