Crypto wallet provider BRD said "nothing volition change" for users following an acquisition from major U.Due south. crypto exchange Coinbase.

In a Wednesday letter to BRD users, CEO Adam Traidman and co-founder Aaron Voisine said some of the company's squad members would be moving to Coinbase to continue working on crypto wallets. Coinbase Wallet said on Twitter that the add-on of the BRD team would "help advance web3 adoption" also as provide "deep expertise in self-custody."

"Naught will change in the BRD wallet app and as ever, your funds are prophylactic and secure," said the BRD execs. "In the future, BRD wallet users volition have an optional migration path to cocky custody with Coinbase Wallet."

Formerly known as Breadwallet, BRD is behind the utility token Bread (BRD). According to information from CoinMarketCap, the token price surged more than than 500% within ii hours of news of the Coinbase acquisition breaking, increasing from roughly $0.sixteen to $1.01.

Related: BRD's CEO Dismissed Crypto Until Overhearing Andreessen Horowitz Execs

BRD announced a number of expansions in 2022, including updating its wallet compatibility to permit storage of Hedera Hashgraph's HBAR token in June. In September, the firm partnered with Ciphertrace, Chainalysis, Elliptic and Unbound Tech to help introduce its data integration platform used by financial institutions and crypto firms considering providing custody solutions.