The San Francisco-based cryptocurrency giant Coinbase is “in advanced talks” to purchase Xapo, a Zurich-headquartered custodian that purportedly owns at least 5% of all BTC in circulation, worth billions of dollars.
Sources, who are “people familiar with the matter”, tell the outlet that Coinbase has an offer of $50 million and added contingent “earn-outs” on the table, but that Xapo has yet to shake on the proposed deal.
This news comes after Coinbase has revealed that it really intends to delve into custody, citing growing interest from its institutional clients and contacts. Brian Armstrong, Coinbase CEO, noted that Coinbase Pro’s volume is now 60% institutional, furthering the narrative that his company should continue to focus on the needs of big names, which many believe will mature the cryptocurrency market.
Institutions are now widely amicable towards the digital asset class. Out of the “more than 400 U.S. institutional investors” polled, 47% agreed that cryptocurrencies should have a place in their portfolios.
You can also catch me on Hyperspace and CBNT
HyperSpace uses UBI (Universal Basic Income) principle to give all users FREE tokens every day. Tokens you can use to amplify other content and earn you more income.
CBNT is much like Steemit but it provides higher rewards at the moment. Be a whale today and earn higher using CBNT platform.