Key Takeaways
Coinbase Custody has added help for NuCypher, Curve, REN, wBTC, tBTC and DFI Cash.
The transfer will give institutional traders entry to a variety of belongings safeguarded by Coinbase.
Coinbase Custody has added a variety of digital currencies lately, suggesting enlargement.
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Coinbase has added a brand new batch of tokens to its custody service, as introduced right this moment on the corporate’s Twitter account.
Coinbase Custody now helps deposits and withdrawals for NuCypher ($NU), Curve ($CRV), REN ($REN), wBTC ($WBTC), tBTC ($TBTC), and DFI Cash ($YFII) https://t.co/y4NV8jgtUP pic.twitter.com/ePxLaJARIJ
— Coinbase Custody (@CoinbaseCustody) December 3, 2020
Six New Cash
Coinbase Custody will help six new tokens. The newest addition consists of 4 DeFi tokens: Curve (CRV), Ren Protocol (REN), NuCypher (NU), and DFI Cash (YFII). It additionally consists of two wrapped Bitcoin tokens: wBTC and tBTC, each of which permit Bitcoin to be spent on Ethereum’s vast collection of DeFi apps.
Coinbase’s resolution so as to add help for these tokens follows a number of different current additions, together with Filecoin (FIL), Polymath (POLY), and Serum (SRM). As of October, 37 tokens are into account.
These cash usually are not essentially listed on Coinbase’s alternate for buying and selling. Slightly, they’re supported by the corporate’s custody service, which is geared toward institutional traders who want a option to to securely retailer their cryptocurrency holdings.
Coinbase within the Information
Coinbase can be within the information for a number of different causes. Earlier this week, it was revealed that the corporate helped Microstrategy CEO Michael Saylor make his mammoth guess on Bitcoin through an OTC deal.
Not all protection has been constructive: the corporate presently faces robust regulatory threats and extensively publicized racial tensions amongst employees. Nevertheless, right this moment’s replace means that the agency’s custodial arm is targeted on increasing help for brand new cryptocurrency belongings.
Coinbase is without doubt one of the largest digital foreign money exchanges, with a each day buying and selling quantity of $840 million within the final 24 hours.
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