Announces adding about 40 kinds of altcoins including Ripple (XRP) to Coinbase Custody!
It has become clear that XRPCoinbase, the subsidiary of the major American cryptocurrency exchange Coinbase Custody has officially added as a custody asset.
What is Coinbase Custody?
Coinbase Custodyis a subsidiary of Coinbase, the largest cryptocurrency exchange in the United States.
The service offered by Coinbase Custody is a cryptocurrency custody service (※).
Originally, it was a project started within Coinbase, but anticipating growth, it became independent from Coinbase in 2018.
The securities handled by Coinbase Custody are “cryptocurrencies,” and the company offers services aimed at institutional investors rather than general investors.
And on October 24, 2018, Coinbase Custody announced that they had received a trust charter from the New York State Department of Financial Services (NYDFS).
Maria T. Vullo announced that the New York Stock Exchange (DFS) approved operating Coinbase Custody Trust Company LLC, a 100% subsidiary of Coinbase Global, Inc., for limited purposes.
As a result, Coinbase Custody is now capable of operating as an independent qualifying custodian under the New York Banking Law.in its business as a custodianentity.
List of cryptocurrencies handled by Coinbase Custody
Before this announcement, the five cryptocurrencies that Coinbase Custody was handling were as follows.
Source:Coinbase Custody
And in August 2018, Coinbase Custody announced support for 40 types of cryptocurrencies.
Source:Coinbase Custody
However, as of November 2018, not all 40 cryptocurrencies listed above were necessarily supported by Coinbase Custody.
The four coins added this time are as follows.
- 0x (ZRX)
- Ripple (XRP)
- Basic Attention Token (BAT)
- OmiseGO (OMG)
Therefore, Coinbase Custody now supports a total of nine cryptocurrencies, combining the initially existing coins with the four added above.
Source:Coinbase Custody
However, as of November 2018, Bitcoin Cash was halted from trading due to hard fork issues.
For details on Bitcoin Cash’s hard fork, please see below.
>>>Bitcoin Cash hard fork succeeds! What will happen to Bitcoin SV in the future?
How Ripple (XRP) was added to Coinbase Custody
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>>>See the Official Cryptocurrency Trivia Site
