US-based crypto exchange Coinbase's recently launched new cryptocurrency custody service for institutional investors called Coinbase Custody is planning to add nearly 37 more existing and forthcoming crypto assets.
These assets are considered for storage only at this time and not for trading purpose. The proposed new assets include Bitcoin Gold (BTG), XRP, EOS, NEO, NEM, Monero (XMR), Zcash (ZEC), XLM, DASH, VeChain (VEN) Tezos (XTZ), Dogecoin (DOGE), Telegram (TON), and NANO.
Coinbase, however, did not commit to when or whether these assets will become available on Coinbase Custody.
Coinbase Custody provides secure storage of large amounts of crypto assets for institutional clients in both the US and Europe. It currently supports only Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH).
The introduction of the secure crypto asset storage solution addressed the main concern among institutional investors of strict financial controls and secure storage facilities for their digital assets.
The custody services are provided through its partner Electronic Transaction Clearing (ETC), which is a U.S. Securities and Exchange Commission (SEC)-registered and regulated institutional broker-dealer and Financial Industry Regulatory Authority (FINRA) member.
In mid-July, Coinbase had announced plans to work with local banks and regulators to explore the possibility of adding five more new crypto assets for trading in as many jurisdictions as possible. Coinbase aims to add Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC), and 0x (ZRX).
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