Coinbase Custody, the custody arm of top crypto exchange Coinbase is exploring support for a number of new assets. According to an announcement by the company, the company plans to add support for more assets over the coming months to support custody for customers all over the world.
“Over the coming months, we plan to support more assets and launch new features that will continue to demonstrate that Coinbase Custody is one of the most trusted and innovative places for institutions to store their crypto assets.”
Coinbase Custody is one of the largest custody services providers in the cryptocurrency industry. Because of the credibility of its parent company Coinbase, it is also one of the most trusted custody services providers in the space. To further the growth of the crypto industry, the company is also working on bringing more institutional clients from the Asia Pacific on board. This was recently demonstrated with the listing of FTX (FTT) and Serum (SRM) as supported assets on the platform.
Assets considered for listing include Tron (TRX) and many DeFi tokens. This is the first time Coinbase Custody is considering so many DeFi tokens for listing, which is not surprising because of the open-ended growth of the DeFi market.
There are currently more Bitcoins locked in DeFi than on the lightning network. Also recently, Tron entered a strategic partnership with custody company BitGo to enable its users to tokenize Bitcoin and ETH on the Tron blockchain. With such acceptance, Coinbase Custody’s support for these tokens will be timely and strategic towards boosting not just DeFi but also the entire cryptocurrency industry.
As the listings are going on, not all the tokens will be available in all countries and regions due to differences in local regulations, but the idea is to ensure all countries and regions are able to access these services globally.