BRD Partners With Wyre to Build Bank Transfer Wallet Feature

BRD, a mobile wallet company, announced today that US customers are now able to purchase bitcoin, ethereum, and Dai using bank transfers.

Company representative Spencer Chen expects this partnership and product launch to close the divide between wallets and exchanges, and allow the company to become a player in the market for cryptocurrency entry.

Since the start of 2019, BRD saw a doubling of transactions performed on its platform, a tripling of the number of existing, free users to premium customers, and the expansion to 170 countries.

Despite BRD's impressive funding line, the company still has negative cash flow.

Chen said as a decentralized company, their products are easier to scale internationally.

The partnership with Wyre was forged six months ago, based on the young company's tenacity.

BRD itself oversees, without taking custody, over $6 billion in crypto assets for two million customers, making it the "Most trusted" mobile wallet available, according to a company statement.

"We're not a monolith," Chen said, the company is still looking for growth opportunities.

With the new bank transfer feature existing BRD users will be able to avoid traditionally high prices to convert their assets, and those looking to enter the space will have another affordable option to consider.

"We've consistently heard from US customers about the frustrations regarding the lack of innovation and simplification from current market leaders, namely Coinbase," said Aaron Lasher, Chief Strategy Officer and Co-founder of BRD. "While more well-funded players have become more custodial and centralized, BRD has remained unwavering in its mission to bring the core value of the blockchain to the masses: Decentralized and Inclusive."