Coinbase Eyeing $50 Million Acquisition of Bitcoin (BTC) Custody Provider Xapo

Just days after Coinbase CEO Brian Armstrong revealed his company managing more than $1 billion in cryptocurrency assets through their custodial service, reports are surfacing that the exchange is negotiating an acquisition of Xapo.

According to sources familiar with the deal, the Block reported on May 16 that Coinbase is advanced talks to purchase the custodial service of Xapo for $50 million in an effort to further their position as the premier institution for cryptocurrency custody. The article also claims that Coinbase is in close competition with Fidelity Digital Assets to acquire the custodial service, with the latter viewing Xapo as a strong entry-point into the industry.

Original source
https://ethereumworldnews.com/coinbase-eyeing-50-million-acquisition-of-bitcoin-btc-custody-provider-xapo/

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