August 16, 2019 Coinbase Custody aquires Xapo’s insitutional custody business, making it the largest cryptoasset custody provider in the world.

The $55M purchase elevated Coinbase’s assets under custody to over $7B, as Coinbase now secures $5.3B worth of assets previous held by Xapo. Successful retention of the remainder of Xapo’s clients would push AUM to over $8B. Further, Coinbase’s CEO, Brian Armstrong, revealed today that Coinbase Custody is adding $200M-400M to its AUM per week.