Coinbase Custody today announced that it has acquired Xapo's institutional business. Xapo is long known as one of the top security companies when it comes to holding crypto assets. Their use of an ex swiss bunker was well publicized. There, more than $10 billion in Bitcoin is held.
This makes them the top custodian company in the world.
It is what appealed to Coinbase leading to the transaction. This puts Coinbase as the biggest crypto custodian company in the world, perhaps leading to some leniency from the SEC.
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