Coinbase Exploring Adding Custody Support To XRP, EOS & 30 other Cryptos

Updated On Aug 4, 2018 by Cameron Bishop

Through a blog post, Coinbase announced that its institutional custody service is looking at the possibility of adding several new assets, including EOS (EOS), Ripple (XRP), NEO (NEO), and XMR (Monero).

The company’s custody service (Coinbase custody) began operations on July 2, 2018. Until now, the firm was supporting only Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH) and Litecoin (LTC).

Overall, according to the medium post, Coinbase is considering 34 cryptocurrencies to be added to its custodial service. Coinbase, to avoid confusions, has mentioned clearly that it has “not yet considered these assets for trading.”

Furthermore, Coinbase has clearly stated that asset additions to its custody service do not mean that these assets would get priority while expanding other Coinbase products.

Still, the development is considered to be positive for the overall improvement of the crypto sector as institutional investors will not invest in any cryptocurrencies which do not have custody support from reliable and secure custody service.

Cameron works tirelessly behind the scenes ensuring his many US news stories are factual, informative and brought to you in a timely fashion before most other media outlets have them. He is an investigative journalist at heart who also has a fond interest in the money and business markets too.

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