Coinbase Custody revealed Friday that it would begin having a look at the addition of various existing and upcoming cryptocurrency assets to its system for storage only.The statement, which was delivered to the public and those internal at Coinbase at the same time to retain transparency, states that the company has started an exploratory procedure to determine whether or not to include more than 40 cryptocurrencies to its custodial service.
At this moment, Coinbase is ruling out these assets for addition to its trading products.
Coinbase Custody offers custodial services to institutional clients that are optimized for the storage of large amounts of cryptocurrency through highly secured means. Moving on, Coinbase Custody will likely assist more assets than those currently available to trade through other Coinbase products.
According to the announcement, asset additions moving forward must pass Coinbase’s Digital Asset Framework. During this research procedure, customers may browse the public-facing APIs or other signs that denote the manner where Coinbase is conducting engineering work to support the oncoming assets. Even though Coinbase can not yet commit to when or if these assets will become available on Coinbase Custody, the business will keep customers updated regarding the procedure through their main Twitter account.
This news comes out the same day that Coinbase announced an official date for the listing of Ethereum Classic (ETC) to its trading products, which is currently set for August 7. The price of ETC has rallied off the latest news.
Coinbase Custody is currently exploring the addition of further tokens.
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