Coinbase continues to expand its crypto footprint in a major way by extending custodial services support to more than a dozen altcoins.
In a new announcement, the US-based cryptocurrency exchange says it’s adding 16 new cryptocurrencies to its roster of 200+ assets that are part of the Coinbase Custody cold storage trust, a baker’s dozen of which are built on Ethereum (ETH).
Coinbase Custody is a custodial service for institutional investors with big money. It’s chartered in New York State and designed to give clients a highly secure way to store large amounts of cryptocurrency.
First getting the nod from Coinbase is CPUcoin (CPU), a provider of computing power for decentralized applications (DApps) which calls itself the Airbnb of CPU/GPU solutions.
Next up is CRE, native token of the Carry Protocol, an ecosystem that helps consumers both protect and monetize their data while engaging with merchants and advertisers.
Project Galaxy (GAL) enables people to collect digital credentials through online behavioral data. The Web3-focused project seeks to build “an open and collaborative credential data network… to build better products and more engaging communities.”
Another ERC-20 token joining Coinbase Custody is Lumerin (LMR) which routes data for the Web3 internet with an aim of decentralizing blockchain mining hash power through an open marketplace and smart contracts.
Jupiter (JUP) is a Singapore-based project which offers a variety of products, including Gravity for DApp development, the Leda marketplace to mint and sell non-fungible tokens (NFTs), as well as the Jupiter wallet.
Decentralized oracle Nest Protocol (NEST) is focused on ensuring price accuracy for DeFi.
Umee (UMEE) is a DeFi platform that allows users to both borrow and lend.
XSGD is a stablecoin that aims to peg to the Singaporean dollar, which at present is equal to $0.72.
HOPR aims to resolve what it calls the Achilles’ heel of Web3 by obscuring metadata to preserve transport layer privacy.
Also joining the Coinbase Custody roster is Wrapped Ampleforth (WAMPL), the wrapped version of the Ampleforth (AMPL) DeFi token which seeks to achieve price-supply equilibrium.
Privacy and scalability ecosystem Oasis Network (ROSE) is a mid-cap Ethereum competitor that bills itself as the first blockchain network to support confidential smart contracts.
The last ERC-20 token to be added is Decentralized Social (DESO), a layer-1 blockchain project that aims to redefine the nature of social media applications by resolving scalability limitations as well as protecting users and content creators from centralized authorities.
The open-world metaverse game Highstreet (HIGH) offers virtual real estate and an online shop featuring authentic, limited edition products. Gameplay can be done via VR on standard computers as well as on smartphones.
MANTRA DAO (OM) is a decentralized autonomous organization DeFi protocol whose goal is “to leverage crowd wisdom to create a community-governed, transparent, and decentralized ecosystem for web 3.0.”
The final altcoin added to Coinbase Custody is Alkemi Network DAO (ALK), which is working to bridge the gap between centralized finance with DeFi through its “institution-grade liquidity network.”
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/robert_s
The post Coinbase Custody Adds Support for 16 Altcoins, Including 13 Ethereum-Based Tokens appeared first on The Daily Hodl.