Coinbase Custody to add 40+ more Assets including EOS and XRP

Coinbase Custody, a digital asset custody for institutions, has announced that they are exploring the addition of 40+ more digital assets including EOS, Ripple (XRP), Monero, NEO, DASH, Bitcoin Gold, NEM, VeChain, Tezos, QTUM, Cardano (ADA) and Telegram. The assets being added will be for storage only and not for trading on the Coinbase Exchange. The most popular cryptocurrency trading platform wants to make it clear that Coinbase wants to be as transparent as possible about their future endeavours for Coinbase Custody.

“We are making this announcement internally at Coinbase and to the public at the same time to remain transparent with our customers about support for future assets.”

The announcement made on twitter by the Product Lead of Coinbase Custody also states that the addition of assets to the Coinbase Custody platform does not imply that these assets will be added to other Coinbase products such as the Coinbase Exchange trading platform.

“Asset additions for trading must pass our Digital Asset Framework.”

In addition to ERC20 tokens, here is full a full list of assets that Coinbase Custody is exploring:

While Coinbase Custody has not provided the exact dates when these assets may be listed, they have noted that customers can expect to see public-facing APIs and other signs that are conducting engineering work to support these assets. They will also be providing updates to customers about the process and what to expect via their twitter account.

Do you think that Coinbase Custody will have a good effect on the cryptocurrency community? leave your comments below.

Thanks for reading! you can find more posts from me atCryptoporridge.com.