Coinbase Custody Launches Support of New Assets for Its Over 300 Institutional Clients

UTC by Steve Muchoki · 3 min read
Coinbase Custody Launches Support of New Assets for Its Over 300 Institutional Clients
Photo: The Coinbase Blog

Coinbase Custody has today announced at-launch support for a new row of assets, including cGLD, FIL, KEEP, NEAR and DOT. It means that Coinbase Custody customers will now have a safe place to store these assets.

Through Medium Coinbase Blog, Coinbase Custody, which is an independent legal entity regulated by the New York State Department of Financial Services, today announced at-launch support for Celo (cGLD), Filecoin (FIL), Keep Network (KEEP), Near Protocol (NEAR) and Polkadot (DOT).

The company, which is dubbed as the leading institutional crypto custodian and recently launched Compound Governance and also collaborated with Bison Trails for staking, is assuring investors in these new networks benefits from its offline storage and insurance coverage. It is supported by the fact that Coinbase Custody recently became the first crypto custodian to certify both the SOC 1 Type 2 and also SOC 2 Type 2 reports.

Coinbase Custody reports having over 300 clients whereby it topped more than $8 billion in crypto assets stored. Since inception, 2018, the company has been offering its clients access to secure and offline storage. Its system has been used by the Coinbase’s exchange business for more than seven years, hence assuring a world-class service to its customers.

According to the post, the Coinbase Custody customers will be able to safely store all the newly added assets on the platform from the moment each of them goes live. The users will be able to enjoy the company’s service of staking at launch for proof-of-stake networks.

“For people who custody with Coinbase Custody, and want to stake with secure and highly available Biason Trails validators, this integration is a game-changer,” said CEO of Trails Joe Lalloz.

The company currently supports more than 50 crypto assets, and now offers any institutional investor that has invested in any of the new networks a place to store safely.

New Assets Added by Coinbase Custody

Celo Gold is a utility and governance asset that enables participation in the Celo platform. Celo is a company that aims to build financial systems that creates the conditions for prosperity to all. Its first mobile platform provides an opportunity that can bring open finance to billions of smartphone users.

Filecoin is a decentralized storage network and marketplace which is designed to store humanity’s most valuable data. Miners can earn the coin by renting open hard drive space, whereas the clients pay miners to store and retrieve their data.

Keep on the other hand is a privacy layer for Ethereum, which is an off-chain container for private data. The token aims to aid smart contracts to enjoy the full capability of the public blockchain.

Near protocol aims to enable community-driven innovation to benefit people around the world. The NEAR token is a utility that helps in the operation and governance of the NEAR platform.

Polkadot is dubbed as a sharded blockchain, which aims to connect several chains in a single network. 

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