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“Nothing will change in the BRD wallet software, and your assets will remain safe and secure as always,” BRD CEO Adam Traidman and co-founder Aaron Voisine explained.
Following its acquisition by prominent US crypto exchange Coinbase, crypto wallet service BRD stated that “nothing will change” for users.
In a Wednesday letter to BRD users, CEO Adam Traidman and co-founder Aaron Voisine said some of the company’s team members would be moving to Coinbase to continue working on crypto wallets. Coinbase Wallet said on Twitter that the addition of the BRD team would “help accelerate web3 adoption” as well as provide “deep expertise in self-custody.”
“Nothing will change in the BRD wallet app and as always, your funds are safe and secure,” said the BRD execs. “In the future, BRD wallet users will have an optional migration path to self custody with Coinbase Wallet.”
BRD is the company behind the utility token Bread, which was previously known as Breadwallet (BRD). According to CoinMarketCap data, the token price increased by more than 500% in two hours after news of the Coinbase acquisition broke, rising 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 utilised by financial institutions and crypto businesses looking to provide custody services.