Coinbase Custody Rolls Out Service For Three Assets; Including Telegram’s (GRM) Tokens
Coinbase Custody announces support of three new tokens on launch including Telegram Open Network’s GRAM tokens.
GRAM, SOL and OXT added on Coinbase Custody
In an official announcement on Medium, Coinbase Custody confirmed they will add support for three new tokens once they launch –Telegram (GRM), Solana (SOL) & Orchid (OXT). The custodian is a licensed trust company registered and chartered by the New York Department of Financial Services (“NYDFS”) under the Investment Advisers Act of 1940.
Coinbase Custody, a firm under Coinbase Inc., will provide a secure “offline storage platform and insurance coverage” for each of the tokens once they launch. As the cryptocurrency industry grows amidst an increasing interest from institutional and big retail investors, Coinbase Custody will offer the investors a secure platform to store their assets while providing easy access to the funds.
The report reads,
“As a leading institutional crypto custodian, we’re excited to continue to provide solutions to custody directly from new networks at launch, solving a significant pain point for the industry.”
Anchorage, a crypto custodian, became the first-ever custodian for the Telegram Open Network’s (TON) tokens.
Telegram Open Network set to launch in October
As rumors spread across the Telegram community on the actual release date of the TON network platform and release of GRAM tokens, emails sent to early investors confirms the launch will be before October 31st. The email further asked investors to submit their public keys by October 16th to receive their GRAM tokens.
On Oct. 8, Telegram finally broke the silence on its $1.7 billion dollars project following months of keeping mum on the developments going on. The messaging giant created a GRAM wallet link on its official Terms & Conditions website, bringing about much fuss in the cryptocurrency community.