“Coinbase said in an announcement on Thursday that the deal will help expand its custody business and will increase its assets under custody to be more than $7 billion. According to a Fortune report on Thursday, Coinbase acquired Xapo’s institutional business for $55 million after beating another strong contender, the investment giant Fidelity. Coinbase Custody’s CEO Sam McIngvale indicated in the report that the exchange could look into crypto lending business in the future. “Fundamentally, we have to help our investors earn a return on their assets. You can imagine lending out bitcoin and earning interest on that,” McIngvale was quoted as saying.”