Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Coinbase Custody has announced that it is exploring the addition of 37 new assets including XRP, EOS, VeChain, and Tezos.
San Francisco-based exchange and wallet service Coinbase announced today, Aug. 3 that it is exploring the addition of 40 new assets to its custodial service, Coinbase Custody.
The blog post stresses that the crypto assets may be added âfor storage only,â and that Coinbase will add them âas quickly and safely as possible.â Coinbase states that they are not currently considering the assets for trading. According to the post:
âWe are making this announcement internally at Coinbase and to the public at the same time to remain transparent with our customers about support for future assets.â
Among the new assets being considered for storage are Ripple (XRP), EOS, Monero (XMR), VeChain (VEN), Cardano (ADA), Bitcoin Gold (BTG), and Telegram.
Coinbase noted that the addition of an asset to Coinbase Custody is not indicative of whether it will be added to other Coinbase products. It also states that assets under consideration for trading must pass the GDAX Digital Asset Framework.
The exchange states that customers may see public-facing APIs and other indicators that Coinbase is in the process of adding support for new digital assets. Coinbase â...cannot commit to when or whether these assets will become available on Coinbase Custody, we will provide updates to our customers about the process and what they can expectâŠâ
Coinbase Custody launched on July 2 of this year, aiming to address the ânumber oneâ concern of institutional investors, namely, security. The new service purportedly utilizes a range of security measures including âon-chain segregation of crypto assets,â âoffline, multi-sig and geographically distributed transaction protectionâ and ârobust cold storage auditing and reporting.â The company also plans to add âsecure, segregated hot wallets.â
The recently launched custodial service is also secured through an SEC-compliant and FINRA-member independent broker-dealer, Electronic Transaction Clearing(ETC).
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.