Coinbase Custody Adds Support for Nine Ethereum (ETH)-Based Altcoins, Spurring Small Price Jump

Share this story:

 

Crypto exchange Coinbase is expanding its custodial services with the addition of 9 Ethereum (ETH)-based altcoins and two other digital assets to its roster.

In a statement, America’s largest crypto exchange by volume says that Coinbase Custody now supports Automata (ATA), DexTools (DEXT), Elastos (ELA), Gnosis (GNO),  Inverse Finance (INV), Loom Network (LOOM), Lattice (LTX), Mina Protocol (MINA), Mango (MNGO), Shping and Lido wstETH (wstETH).

Coinbase says that the availability of the newly-supported crypto assets may be restricted based on custodian entity and customer jurisdiction.

The announcement prompted rallies in most of the newly-supported altcoins.

Over the past 24 hours, ATA is up by 8.18%, DEXT by 6.24%, GNO by 3%, INV by 9.46%, LOOM by 6.78%, LTX by 4.51%, MINA by 7.81%, MNGO by 5.39%,  wstETH by 7.45% and  ELA by 1.09%

Only one of the 11 assets is in the red territory at time of writing. Shping is down by 0.88% over the past 24 hours. 

Coinbase Custody is a crypto custodial service targeted at deep-pocketed institutional investors. It is designed to provide clients with a secure platform to store large amounts of crypto assets.

Amid concerns over investing in crypto assets following the meltdown of FTX, Coinbase CEO Brian Armstrong recently assured customers that the exchange wouldn’t face liquidity issues like the now defunct rival.

“So for Coinbase [FTX’s collapse] is a non-issue and the reason is that we hold customer funds one-to-one backed. And you don’t have to take our word for it. We are a public company and so we publish audited financial statements by a Big Four accounting firm. And when we went public in the United States we filed and registered an S-1 with the SEC and we explained to them exactly how our business works. We showed them our audited financials and they approved us as a company to go public.”

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

&nbsp

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/jovan vitanovski/Sensvector

The post Coinbase Custody Adds Support for Nine Ethereum (ETH)-Based Altcoins, Spurring Small Price Jump appeared first on The Daily Hodl.

 Read More 

All provided materials and tools are for entertainment purposes only and should never be considered financial advice. Crypto News 19 will not take any responsibility for lost funds based on investments/trades made on information found here or any linking website/affiliate. This includes all social media posts and all other communications occurring under the name Crypto News 19. You should always seek professional advice before making any investment or trade.