Coinbase has just purchased wallet developer BRD.
The wallet currently has more than 10 million users and is used to store more than $20 billion. According to Coinbase, the transfer of BRD to the new owner will not impact users, as nothing will change. However, the company plans to simplify integration with the exchange. Coinbase has said:
"Nothing will change in the BRD wallet app and as always, your funds are safe and secure. You may continue to transact normally. In the future, BRD wallet users will have an optional migration path to self custody with Coinbase Wallet."
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The price of the BRD token has seen a dramatic 650% increase following Coinbase's announcement. BRD is used in the project's loyalty program and has not attracted much investor interest over the past few years.
BRD (formerly Bread) was launched back in 2014 and became the first cryptocurrency wallet in the App Store.