New Assets to Be Available through Coinbase Custody, But Will Only Offer Storage
Coinbase Custody is known as a “custodial service,” which lets consumers store their cryptocurrency in a protected way. They recently decided to make more crypto assets available to users for storage, expanding their services to many other crypto assets. Unfortunately, there is not the option to trade at the moment, and the assets that they take on will likely be greater than the number of tokens they plan to trade on their platforms.
Right now, the list of assets includes:
- Stellar Lumens
- Bitcoin Gold
- Hedera Hashgraph
Coinbase is doing their best to be clear about their intentions with these new assets. Consumers may notice that the company is working on engineering protocols that imply that the platform will work with any or all of these assets. Specifically, in a blog post on August 3rd, they wrote:
“Asset additions to Coinbase Custody have no bearing on whether they will be added to other Coinbase products. Asset additions for trading must pass our Digital Asset Framework.”
In order to find out what is coming next from Coinbase Custody and the rest of the platform, both potential and current investors can follow their Twitter account.