Coinbase in advanced talks to acquire Xapo: sources

Regulated U.S.-based cryptocurrency exchange Coinbase is in advanced talks to buy custody provider Xapo for about $50 million to boost its custody business, people familiar with the matter said on Thursday. Xapo’s CEO Wences Cesares is a serial entrepreneur from Argentina known to be one of the biggest champions of bitcoin from its earliest days.

Sources cautioned that the deal has yet to close, and requested anonymity due to the confidentiality and fluid nature of the talks.

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