Coinbase Update: More Than 30 Crypto Assets Now Supported on Coinbase Custoday

Cryptocurrency platform Coinbase announced last week that more than 30 crypto assets are now supported through its Coinbase Custody program. Coinbase reported that since the start of 2019, Coinbase Custody has rolled out support for over 20 new cryptocurrencies. The platform also revealed:

“Over the first half of 2019, Coinbase Custody has been busy adding new features and support for the assets that our clients have requested. We recently became the first institutional-grade, qualified custodian to offer staking services for assets held offline. We’re also among the first to offer OTC trading directly from cold storage. These offerings are allowing our clients to participate in all facets of the cryptoeconomy — trading, staking, governance — all while keeping their assets securely offline and protected by our comprehensive insurance policies.”

Coinbase then explained that on the asset front, it has added support for nearly 20 new assets over the first few months of 2019, taking its total asset support to more than 30. The assets included cryptocurrencies like Augur (REP), ZCash (ZEC) and Tezos (XTZ), but also smaller-cap projects like FOAM (FOAM), Kin (KIN), and Maker Dai (MKR). Coinbase added:

“The number-one driver of our decision to support assets is client demand — we prioritize the assets our clients need. In addition to client demand, we have developed a robust internal process to evaluate and approve assets for Coinbase Custody. Over the coming months, you should expect to see more assets supported on Coinbase Custody, but please keep in mind that asset additions to Coinbase Custody have no bearing on whether they will be added to other Coinbase products. Asset additions for trading must pass our Digital Asset Framework.”