BRD Wallet and Unbound Security — Coinbase Acquires 2 Companies in Less Than a Week

The publicly-listed crypto-asset exchange Coinbase has announced the company has acquired the Israeli firm Unbound Security. The announcement follows Coinbase acquiring the cryptocurrency wallet BRD last week and the Unbound acquisition is aimed at the company’s “commitment to providing the safest, most secure, and most trusted venue for anyone to interact with the [crypto economy].”

Ever since Coinbase (Nasdaq: COIN) was publicly listed, the company has acquired a number of smaller companies. Prior to the listing on Nasdaq, the company acquired the firm Bison Trails and on April 30, the crypto-focused data analytics company Skew revealed it was purchased by Coinbase. The publicly-listed crypto asset exchange further purchased Zabo in August and during the first week of November, Coinbase acquired the company Agara. During the last week, Coinbase has revealed two more acquisitions.

On Tuesday, Coinbase announced the acquisition of Unbound Security, a firm that works with multi-party computation technology. Coinbase asserts that Unbound’s multi-party computation technology “will play a foundational role in Coinbase’s product and security roadmap.” The move will also increase Coinbase’s presence in Israel, the crypto exchange highlights. Coinbase says that it believes Israel is “a hotbed of strong technology and cryptography talent.”

Furthermore, Coinbase plans to “establish a tech center of excellence in Israel that will ensure that Coinbase is always at the bleeding edge of security and blockchain technology.” The company stresses that it will gain insights from some of the most prominent cryptographic experts.

“With this acquisition, Coinbase not only gains access to some of the world’s most sophisticated cryptographic security experts, including Unbound Security co-founder and current vice president of Research and Development, Guy Peer, who brings more than 20 years of experience in cryptographic security, but also a presence in Israel, a well-established and rapidly growing technology hub,” Coinbase added.

Six days before the Unbound Security acquisition announcement, it was revealed that Coinbase acquired the open-source BRD wallet. Adam Traidman BRD’s co-founder and CEO explained that BRD grew to a community of 10 million customers since its inception in 2014. “We would like to share the news that members of our team will be continuing our mission at Coinbase, where we will work together to bring the power of decentralization to even more users around the globe,” Traidman wrote to BRD users on November 24.

Traidman further added that “nothing will change in the BRD wallet app” but in the future, BRD wallet users “will have an optional migration path to self custody with Coinbase Wallet.” Moreover, the BRD users that migrate will get a “special gift” and Traidman added that BRD users should stay tuned in 2022. The native token tied to the BRD community, bread (BRD), saw the coin’s value swell by more than 500% this past week and is still up 460% at the time of writing.

What do you think about Coinbase acquiring Unbound Security and the acquisition of BRD last week? Let us know what you think about this subject in the comments section below.