New assets for Coinbase Custody
New assets for Coinbase Custody
Crypto

New assets for Coinbase Custody

By Alfredo de Candia - 30 Apr 2020

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Coinbase has announced that it has started supporting new assets for its Coinbase Custody service.

The service, now launched in 2018, has already over 300 clients and has accumulated over $8 billion, making it the largest crypto custody service in the world for institutions. And it is precisely targeted at them.

It currently operates more than 50 different crypto assets including Celo Gold (cGLD), Filecoin (FIL), Keep Network (KEEP), NEAR Protocol (NEAR) and Polkadot (DOT).

The service, as mentioned, is aimed at institutional investors also because the minimum amount to be paid is 1 million dollars and has a fee of up to 10 thousand dollars depending on the specific case, figures that a normal user could not afford.

The latest news on Coinbase

Considering its figures and the number of the supported crypto assets, it is not surprising that it has been chosen by many for its reliability; moreover, only recently Coinbase has also added supported the new Compound governance and therefore this platform can also be used to actively participate in the protocol.

This news comes after the even more important news about the oracle dedicated to decentralized finance (DeFi), a service whose release has perhaps been driven mainly by recent problems and attacks in this area that have made inefficient the crypto price data management systems involved in the various protocols and pools.

It should also be remembered that Coinbase is expanding its position in DeFi by integrating it into its wallet so as to bridge the gap between the common user and the use of the various protocols in the industry, also because let’s not forget that Coinbase’s commerce side has generated over 200 million transactions in this sector alone.

 

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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