Famous Bitcoin exchange Coinbase is expanding its custody services by adding eight new altcoin projects. cryptocoin.com We have compiled the details for you, let’s examine the subject together…
Coinbase is adding eight new altcoins!
US-based cryptocurrency exchange Coinbase says in a couple of tweets that it has added eight new cryptocurrencies to its list of more than 150 assets that are part of Coinbase Custody. Coinbase Custody is a custodian for institutional investors with big money. It is leased in New York State and is designed to provide customers with a highly secure way to store large amounts of cryptocurrencies.
The first to receive approval from Coinbase was OriginTrail (TRAC), whose native token powers a data management system that helps businesses and organizations securely store and manage critical information in a completely decentralized manner. The TRAC token was designed to pay for data processing and storage fees on the network.
Coinbase also accepts Function X and ENS
Function X (FX) stands out as a new generation pioneer for the financial space, bridging the gap between traditional investment and the possibilities offered by Blockchain technology. The FX token that Coinbase added to its custody service runs on Ethereum. Also, another altcoin joining the Coinbase cold wallet list is Ethereum Name Service (ENS). The project’s website includes the following statements on the subject:
Ethereum Name Service (ENS) is a distributed, open and extensible naming system based on the Ethereum Blockchain. ENS’s job is to map human-readable names such as ‘alice.eth’ to machine-readable identifiers such as Ethereum addresses, other cryptocurrency addresses, content hashes, and metadata.
These altcoins and Alchemix (ALCX) have been added to Coinbase Custody
The next altcoin is the privacy-focused ARPA Chain (ARPA), which uses multilateral computing as part of its Blockchain-based security network. The automated crypto trading platform KRYLL (KRL) was designed to allow users to browse, create and test various trading strategies and see how they are performing. These altcoins and Alchemix (ALCX) have been added to Coinbase Custody.
GYEN (GYEN) added to Coinbase Custody is an Ethereum-backed stablecoin pegged to the Japanese yen. Currently worth 8/10 of a cent, GYEN has also been available on the Coinbase exchange since November. The last altcoin to receive support from Coinbase is Ribbon Finance (RBN), a DeFi protocol that aims to bring structured products to the cryptocurrency market.
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