Coinbase to Buy Xapo's Custody Service
Main page News, Cryptocurrency
Hot topic
17 May
986 986

Popular U.S.-based crypto exchange Coinbase plans to acquire Xapo's custody service, The Block reports citing sources.

Apparently, the companies are still negotiating. If the parts eventually reach an agreement, the transaction could reach as much as $50 million.

According to sources, Fidelity Investments, one of the world's largest asset management services, has also been trying to acquire the custody service over the last weeks.

Fidelity recently launched the test version of its own crypto platform.

Xapo is specialized in Bitcoin storage. The company's wallets are reported to store around 700,000 Bitcoins. According to some reports, the custody service stores about 7% of all existing Bitcoins.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Read also:
Please describe the error
Close