Coinbase Announces Custody Plans for 40 New Digital Assets Including Ripple XRP
On Friday, Coinbase took to Twitter to break the latest update on its plans to expand its custody service to include 40 more assets, including XRP, which is the third largest cryptocurrency by market cap.
In the blog post, the exchange revealed that they expect final testing to be completed by August 7th. And it would take 24-48 hours for trading to begin on the platform.
Our engineering team is beginning final testing of Ethereum Classic on Coinbase products. We expect final testing to be completed by Tuesday, August 7, at which point we expect to announce that we’re ready to accept inbound transfers of ETC.https://t.co/l7smcSY3q8
— Coinbase (@coinbase) August 3, 2018
The institutional funds are required by law to help the custodian to hold their crypto assets and keep it safe from any kind of hack and theft. For the moment, Coinbase is a custodian for just 4 cryptocurrencies, namely Bitcoin, Ethereum, Litecoin and Bitcoin Cash.
A Coinbase spokesperson declined to provide a specific timetable for when exactly the custody support for the new assets will be available. The company also says plans to add all 40 of the assets are not definitive.
Coinbase Custody is exploring the addition of many existing and forthcoming crypto assets for storage only, and will be working to add them as quickly and safely as possible. At this time, we have not yet considered these assets for trading.
— Coinbase Custody (@CoinbaseCustody) August 3, 2018
The official list of coins being considered are the following:
Get Bitzamp Latest Update By Downloading our Mobile App: Bitzamp – Cryptocurrency News – Apps on Google Play