Coinbase Custody announced its decision to support deposits and withdrawals for $FOAM on its platform through an official tweet posted on 1st May 2019. FOAM too confirmed the availability of its digital currency on Coinbase Custody by retweeting the post shared by the latter.
— Coinbase Custody (@CoinbaseCustody) May 1, 2019
FOAM works towards the mission of building a map of the world that is driven by consensus. It is committed to developing spatial standards, applications, and protocols which bring the geospatial data to the blockchains. Proof of location protocol of the FOAM is aimed at enabling an autonomous, privacy-preserving and permissionless network of radio beacons which can offer independent and secure location services. These location services would be independent of any external centralized source like GPS although their location verification services would be thoroughly secured.
Coinbase Custody, on the other hand, is reputed for offering the custody of digital assets for institutions. It is an independently owned and managed business of Coinbase which is also a fiduciary that comes under NY State Banking Law. Coinbase Custody is known for bringing newer networks early on its platform so that the investors don’t have to face custody gap at all.
Prior to making $FOAM available on its platform, Coinbase Custody recently started providing deposit and withdrawal support to mainnet $KIN as well as $XYO.