On August 14th, cryptocurrency company BitGo said that after Grayscale's recent initiatives, Xapo customers don't think CoinbaseCustody is a "comparable service", BitGo claims that in response, BitGo now offers Xapo customers 12 months. Free hosting service. According to a report in May, Coinbase is negotiating for the acquisition of Xapo's institutional custody business. According to one source, the cryptocurrency exchange launched a close competition with Fidelity Digital Assets in the deal. BitGo also considered the deal. The deal has not been confirmed, but earlier this month, cryptocurrency management company Grayscale Investments transferred $2.7 billion in cryptocurrencies from Xapo Wallet to Coinbase Custody, which market speculators speculate is part of the acquisition.