XYO Network’s Token Now Can Be Deposited and Withdrawn with Coinbase Custody
Coinbase Custody Adds XYO Token for Deposits And Withdrawals in Big Move for the Blockchain Location Coin
The purpose of Coinbase Custody is to offer offline custody support in a full-service, insured, and regulated atmosphere for users. The company primarily focuses on serving hedge funds, institutions, and similar firms, and they now have created an opportunity to use XYO on the platform as well.
— Coinbase Custody (@CoinbaseCustody) April 30, 2019
As XYO joins Coinbase Custody, they join only 21 other assets that are presently available on the platform. Others include Bitcoin, Civic, Ethereum, Litecoin, Ripple, and Stellar, among others. With the new addition of XYO, the press release on the matter said the token will be aligned “with the most trusted and easiest-to-use crypto custody service.”
Published by Business Wire, the press release adds that some of the features of this custodial service include:
- The segregation of crypto assets while on-chain
- Offline private keys that sign transactions with cryptographic hardware
- Multi-level security
- Cold storage, which is frequently audited and reported
XYO was originally created in 2012, using IoT technology to connect the digital world and the physical industry. Last year, the company launched the XYO Network, which surpasses the GPS network with over 1 million beacons around the world to verify locations.
This all of course came with the other news about Coinbase Custody adding Kik (KIN) token today as well.
Live XYO Network Token Price:
1 XYO/USD =$0.0049 change ~ -2.62%