Coinbase Custody acquired Xapo's institutional business. Exchange representatives announced this in a blogcompanies. The new acquisition raises Coinbase Custody's valuation to $7 billion, according to the announcement.
Xapo is the largest cryptocurrency wallet service provider that has negotiated with Coinbase Custody to sell the business since mid-May of this year.
The announcement claims that Coinbase Custody now operates on behalf of more than 120 customers in 14 different countries. According to the blog post:
Our institutional product range provides a powerful and compatible ecosystem for our clients' activities related to trading, storing and interacting with their crypto assets.
Recall, in July, Coinbase CEOBrian Armstrong said at an AMA session that he hoped Coinbase would shift its focus from trade to wider adoption in the economy over the next five years.
Read this:
Research: Kraken and Coinbase provide the most honest trading volume data.
earnings on the stock exchange. business idea 2 – forex – blog. selling advertising from a blog, referral program. Can we discuss?
Ripple Acquires Icelandic Crypto Trading Company Algrim
Bitfury Mining Institutional Fund Approved by EU Regulator
Decentralization as a tool for securing electronic commerce and business processes
What to expect from the 12 Days of Coinbase event