Coinbase is reportedly negotiating the acquisition of the bitcoin custody business of cryptocurrency wallet provider Xapo for $50 million in cash.
Xapo is a free-of-charge Bitcoin wallet and storage platform. It was created in 2013 by Wenses Casares and Federico Murrone. The main office of Xapo is headquartered in Palo Alto, California. The Xapo wallet is available both online and offline with all transactions conducted without any fees. The main feature of the platform is their offer of a special Xapo debit card that is connected to the user’s wallet. The Xapo card allows using digital money to pay for purchases and to make withdraws without searching for available exchanges and thinking of the conversion rate of cryptocurrency to fiat money and vice versa. When replenished, the card user’s national currency is converted into the virtual currency at the current exchange rate. Also, it is possible to get some extra bonuses by using Xapo on faucet websites.
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