Coinbase buys crypto wallet company BRD

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Crypto wallet startup BRD was bought by Coinbase, according to a BRD blog post on Wednesday, November 24, which co-founders Adam Traidman and Aaron Voisine said will accelerate the company’s decentralization goals.

The post notes that “at this time nothing will change in the BRD wallet app” and reassures users that their funds are “safe and secure”.

According to a tweet from the Coinbase Wallet account, the BRD team will help with the adoption of web3, and the team’s expertise in crypto wallets will help Coinbase meet its security and crypto security needs.

The post also notes that in the future, BRD wallet users may choose to migrate to personal custody with Coinbase Wallet, “which will include a special giveaway.”

That said, the startup’s utility token faces an unknown future. The token trades under $ BRD and is part of the customer loyalty program.

Coinbase has launched new tools to help boost crypto education and allow the community to share what they know and be interactive with the effort.

The company said customers are “looking for ways to better understand crypto both as an investment and as an application platform,” but Coinbase acknowledged that it can sometimes be difficult to keep a ahead of all the news.

The company said it would “empower” the community and make it “easier and more fun” to share portfolio information and learn about things like new assets.

Coinbase already had a few educational tools, and its new tools will make it easier for users to share information, which will share allocation percentages and not a user’s wallet balance.

Users will be able to choose what they share, or if they share at all – users can even toggle between sharing or not as they please.

As crypto has always been volatile, Coinbase could see the third quarter of late as “a harbinger or a missed opportunity,” PYMNTS wrote recently.

Read more: Coinbase asks investors to stay calm and focus on the long term as trading drops 29%

Coinbase co-founder and CEO Brian Armstrong remains optimistic, saying in early November that there was a “really strong and accelerating pace” of crypto in the world.

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