Coinbase staking and pooling arm, Coinbase Custody, announced the addition of five new cryptocurrencies on the platform. The platform offers institutional-grade secure storage and will now allow holders of Celo Gold (cGLD), Filecoin (FIL), NEAR Protocol (NEAR), Polkadot (DOT), and Keep Network (KEEP) access to these facilities when they officially launch.
Coinbase Custody started in 2018, is regulated by the New York State Department of Financial Services (NYDFS) to provide financial services to its users. The custodial has grown into one of the largest services in the crypto industry supporting over 50 crypto projects to date. The custodial is aiming to add to its 300+ clients and $8 billion in holdings with the new additions.
Staking on PoS platforms also supported
The users will also access the staking protocols provided for the Proof of Stake (PoS) tokens – KEEP, DOT, FIL, and cGLD. Notwithstanding Coinbase Custody recently announced a partnership with node validator, Bison Trails to offer staking capabilities for their users.
Bison Trails CEO, Joe Lalloz, said during the launch,
“For people who custody with Coinbase Custody, and want to stake with secure and highly available Bison Trails validators, this integration is a game-changer.”
Focus on regulation and international markets
Coinbase announced the launch of its Europe based custodial service at the end of January to serve their international customers. This came about two months after the company announced global support for Tezos (XTZ) staking for their institutional investors.
As regulation in the U.S toughens on crypto-based institutions, Coinbase is looking for crypto-friendly destinations. Earlier this month, the company announced they had moved their leading staking bakery on XTZ from the U.S to Ireland due to the regulation uncertainty across the U.S.