- Coinbase has made its latest acquisition, joining the BRD wallet for its "deep expertise in self-custody. ”
- The portfolio's native token, BREAD, climbed more than 900% in a matter of hours, while its volume increased by more than 43,000%.
America 's largest stock exchange growst and made a new acquisition. Coinbase acquired the BRD wallet to help it accelerate the adoption of Web3. The wallet will gradually integrate into the Coinbase wallet, but for now users will not be affected by any changes.
Acquisition announcement, Coinbase Wallet said:
A spokesperson for Coinbase said the exchange is working on an integration plan for its latest acquisition and for now BRD will be allowed to operate independently. The spokesperson added:
BRD token grows 900%
BRD wallet launched in 2014, aimed at enabling its users to control their funds and strengthen security. At the time, there were few actors targeting userss mobiles for Bitcoin storage. At launch it only supported Bitcoin, but it has since expanded to several other altcoins.
In addition, BRD now allows its users to buy, sell and trade. '' trade cryptocurrencies. It has partnerships with Apple Pay and credit card providers that make it easy for its users to purchase multiple tokens.
BRD is a self-service wallet, which means users store their cryptocurrencies on their devices. This allowed it to jump the strict regulatory hurdles for custodial portfolios. As a result, it has become very popular in Latin America and India.
Currently, BRD claims to have ten million users, an impressive feat for a startup that first reached 500,000 users in June of last year, more than four years since the launch. Since then, its founders claim to have addedone million new users every two months.
BRD has raised a large sum of money under the leadership of SBI Crypto Investments and East Ventures. His last round of table took place in October of last year, and in total it raised $ 55 million.
The acquisition generated a lot of interest in its native cryptocurrency and a parabolic increase in its value. Known as the BREAD (BRD) token, it has been trading around $ 0.1-0.2 without incident for months now.
However, upon acquisition it has climbed by 924% in a few hours, from $ 0.16 to $ 1.65. . Its momentum has since slowed down and is trading at $ 1.15 at time of publication, which is still 598% higher than a day ago.
Its trading volume is a testament to its new reputation. As of yesterday it averaged $ 300,000. Today it has risen to over $ 500 million, a 43,000+ percent t increase.