The San Francisco-based exchange and portfolio service Coinbase announced today, August 3, that it is exploring the addition of 40 new resources to its custody service, Coinbase Custody.
The blog post emphasizes that cryptographic resources can be added "Just for storage" and Coinbase will add "as quickly and as securely as possible". Coinbase states that they are not currently evaluating assets for trading. According to the post:
"We are making this announcement internally to Coinbase and to the public at the same time to remain transparent with our customers on support for future resources."
Among the new resources considered for storage are Ripple (XRP), EOS, Monero (XMR), VeChain (VEN), Cardano (ADA), Bitcoin Gold (BTG) and Telegram.
Coinbase noted that adding a resource to Coinbase Custody is not indicative and will be added to other Coinbase products. He also declares that the assets under negotiation must pass the GDAX Digital Asset Framework.
The exchange states that customers can see public APIs and other indicators that Coinbase is adding support for new digital resources. Coinbase "… can not commit to when or if these resources will be available on Coinbase Custody, we will provide updates to our customers on the process and what they can expect …"
Coinbase Custody was launched on July 2nd of this & # 39; year, aiming to address the "number one" concern of institutional investors, namely security. The new service presumably uses a series of security measures that include "cryptographic resource on-chain segregation", "offline, multi-sig and geographically distributed transaction protection" and "robust cold storage control and reporting". The company also plans to add "safe and segregated hot portfolios."
The recently launched custody service is also protected by an independent SEC-compliant trading intermediary and FINRA member, Electronic Transaction Clearing (ETC).