Coinbase Custody Now Supports More Than 30 Crypto Assets
Coinbase Custody, a trusted and prominent platform when it comes to the custody of Digital Assets for institutions, now supports over 30 digital currencies on its platform. This exciting update was shared by Coinbase Custody with the community of crypto enthusiasts over the micro-blogging site Twitter on 6th May 2019.
Over the last few months we’ve been busy adding assets our clients want to store. Read more about our 20+ recent additions and our approach to adding assets https://t.co/pkUCc8ewG1
— Coinbase Institutional (@CoinbaseInsto) May 6, 2019
The digital asset custody platform revealed how it has been consistently adding the cryptos in which its clients are interested in since the beginning of this ongoing year. Brian Armstrong, the CEO and Co-Founder of Coinbase, also updated the crypto community of their new achievement through his tweet.
Ever since the current year has begun, more than 20 new digital currencies have been added successfully by Coinbase Custody, making its total asset count to 30+. However, it must be noted that the digital asset platform doesn’t discriminate between popular and smaller crypto projects while planning to extend their support. While Coinbase Custody has included support for ZEC or ZCash, REP or Augur, as well as XTZ or Tezos; it has also extended support to Kin or KIN, MKR or Maker Dai, and FOAM.
As per Coinbase Custody, their goal is to provide their clients with an insured, regulated and safer platform for every asset requested by their clients. All the crypto assets have to go through stringent internal evaluations before their inclusion on Coinbase Custody.
Interestingly, the crypto asset platform also became the very first qualified and institutional grade custodian recently for offering asset staking services. Through this service, it has become possible for clients to stake even those assets which they hold offline. According to a detailed blog post published by Coinbase, constant efforts are made to include newer features as well as support for the client-requested crypto assets to increase client convenience and security.
In addition to that, Coinbase Custody is also the first one to offer direct OTC trading from the cold storage itself. Thanks to such offerings, clients can do much more with their crypto assets in a more secure manner – whether it is staking, trading or governance. Moreover, the clients can safely keep their assets offline while participating in any of these activities. These assets also come under the protection of the platform’s in-depth insurance policies, adding to its appeal.
Elaborating further, Coinbase Custody went on to disclose that it is the client demand that drives their decision to support a particular crypto asset. Apart from that, they follow an internal process that thoroughly evaluates and approves each asset before it’s made public on Coinbase Custody platform.
To elevate the curiosity of the entire crypto community, Coinbase Custody stated that it will extend support to more crypto assets in the near future. However, the platform also clarified that the asset support doesn’t guarantee if the same would be included on the other products that Coinbase has on offer.