Xapo Is Getting Acquired By Coinbase
Xapo is under negotiations with Coinbase which will see the bitcoin (BTC) custody business of the former being acquired by the latter.
Anonymous sources that are familiar with this development reveled that Coinbase has been vying with the digital currency wing of United States financial services giant Fidelity, Fidelity Digital Assets, for Xapo for several weeks now.
Xapo was founded in 2014 which has been headquartered in Hong Kong, providing a BTC wallet and a cold storage vault as well as bitcoin-based debit card services.
The company is backed by some of the leading industry players in the crypto space which includes Digital Currency Group, Winklevoss Capital and Blockchain Capital and reportedly holds $5.5 billion in assets under its custody.
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