Coinbase Custody adds support for 16 Altcoins, including 13 Ethereum-based tokens

Coinbase Custody adds support for 16 Altcoins, including 13 Ethereum-based tokens

Coinbase continues to expand its crypto footprint in a major way by expanding custody service support to more than a dozen altcoins.

In a new announcement, the United States-based cryptocurrency exchange Said It is adding 16 new cryptocurrencies to its 200+ asset roster as part of the Coinbase Custody Cold Storage Trust, one of which is built on a baker’s Ethereum (ETH).

Coinbase Custody is a safeguard service for institutional investors with large sums of money. It is designed to give chartered and clients in New York State a highly secure way to store large amounts of cryptocurrency.

The first consent from Coinbase came from CPUcoin (CPU), a computing power provider for decentralized applications (DApps) that calls itself Airbnb of CPU / GPU solutions.

The next is the CRE, the native token of the Carrie Protocol, an ecosystem that helps customers secure and monetize their data while engaging with merchants and advertisers.

Added to Coinbase Custody is Convex Finance (CVX), a yield optimization decentralized finance (Defi) protocol built on top of Curve Finance (CRV).

Project Galaxy (GAL) enables people to collect digital certificates through online behavioral data. The Web3-centric project seeks to “create an open and collaborative certificate data network … to create better products and more engaging communities.”

Another ERC-20 token joining Coinbase Custody is Lumerin (LMR), an open marketplace and route to data for Web3 Internet aimed at decentralizing blockchain mining hash power through smart contracts.

Jupiter (JUP) is a Singapore-based project that offers a variety of products, including Gravity for DApp development, non-fungible tokens (NFTs), as well as Leda Marketplace for selling Jupiter Wallet.

Decentralized Oracle Nest Protocol (NEST) focuses on ensuring price accuracy for DeFi.

Umee (UMEE) is a DeFi platform that allows users to borrow and borrow both.

The XSGD is a stablecoin intended to be pegged to the Singapore dollar, currently equivalent to 0.72.

HOPR’s goal is to address what Web3’s Achilles heel is obscuring metadata in order to protect the privacy of transport layers.

Also joining the Coinbase Custody Roster is the wrapped version of the Wrapped Ampleforth (WAMPL), Ampleforth (AMPL) DeFi token that seeks to achieve price-supply balance.

The 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 deals.

The last ERC-20 token added is Decentralized Social (DESO), a Level-1 blockchain project aimed at resolving scalability constraints as well as redefining the nature of social media applications while protecting users and content creators from centralized authority.

Open-World Metavers Game Highstreet (HIGH) offers an online store featuring virtual real estate and authentic, limited edition products. Gameplay can be done via VR on standard computers as well as smartphones.

MANTRA DAO (OM) is a decentralized autonomous organization DeFi protocol that aims to “utilize crowd knowledge to create a community-governed, transparent, and decentralized ecosystem for Web 3.0.”

The ultimate altcoin added to Coinbase Custody is Alkemi Network DAO (ALK), which is working to bridge the gap between DeFi and centralized funds through its “institution-grade liquidity network”.

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Featured Image: Shutterstock / Robert_S

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