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After XRP is now a good supported by Coinbase Custody, the institutions are a bit more confident in Ripples' cryptocurrency. XRP has been listed as one of the nine resources supported for its service. Although the exchange did not announce when it added exactly the remittance and settlement token, it came to our attention early in the morning.
As reported by Crypto Briefing:
"XRP is one of two resources – the other is OmiseGO (OMG) – supported by the custody solution, but which can not currently be traded on the stock exchange." Coinbase Custody also chose to use the Ripple logo, rather than XRP It is not arguable that this has any significance, but the public relations campaign under way to distance the XRP token from Ripple Labs does not seem to find traction at Coinbase. "
There was no official world from the Coinbase Custody regarding XRP support and its social media accounts were relatively inactive. In a recent blog post that was published in August, the service said that it was currently exploring the addition of over 30 new assets to its solution. Including XRP, other coins that are present in this are Dash, NEO and EOS. What's interesting about this is that Coinbase Custody went to use the XRP logo in the blog post.
Coinbase Custody is a service at an institutional level that offers secure space for digital currencies. "Its first deposit was accepted in the summer, and the service uses a mix of cold-walled storage, as well as broker dealers and reporting services, and deposits are fully insured against theft."
Speculation is already crowded what the addition of XRP means to the resource. The other supported resources are all widely tradable in the exchange of credit cards.
Some investors have even begun to speculate that today's move shows Coinbase responding to the growing institutional appetite for assets, other than Bitcoin and Ethereum.
The head of the Asia-Pacific at an investment bank, the Reserve, Nelson Ryan said he showed an initial attempt to approach a greater interest in the XRP. Ryan said:
"The fact that Coinbase is offering asset protection to institutional investors before offering it on its sales platform says a lot about the real potential risks that keep seeing that XRP can be considered a security. a request for a wider range of products and resources for investment and speculation. "
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