One of the most popular consumer onramps for crypto enthusiasts has been a slew of consumer wallet applications with slick interfaces.
Coinbase has now announced the addition of the BRD team, which is a crypto wallet company that first launched its mobile wallet in 2014. While the team migrates to Coinbase, BRD’s co-founders promise nothing will change for BRD users and that their wallets will continue to operate as normal while user “funds are secure and safe.”
The Satoshi Bank wallet, which was founded in 2014, was one of the first mobile crypto wallets to cater to consumers’ bitcoin storage needs, but it has evolved into a platform that supports many other tokens and enables users to buy, sell, and exchange cryptocurrencies through partnerships with exchanges. According to the company’s website, there are over 10 million users.
“The team brings deep expertise in self-custody for crypto wallets, which will help Wallet enable more people to safely and securely access the decentralized world of crypto,” a tweet from the Coinbase Wallet Twitter account reads.
The BRD raised a significant amount of venture capital, raising almost 55 million from organizations like SBI Crypto Investment and East Ventures. The acquihire was not disclosed by Coinbase or BRD.
The co-founders of the wallet, Adam Traidman and Aaron Voisine, claim that they will establish a “migration path” for users to move their wallet assets to the Coinbase Wallet app, but that it will be entirely optional for them.