Coinbase Custody added support for new tokens

VR, CQT, KEY, QSP, MFG, NOIA, DEXE, and HEGIC are now available in the exchange’s cold wallet

03.06.2022 - 10:25

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What’s new? Cryptocurrency exchange Coinbase has published a list of new tokens that are available for deposit and withdrawal to the cold wallets of the Coinbase Custody service. The platform now supports Victoria (VR), Covalent (CQT), SelfKey (KEY), Quantstamp (QSP), Smart MFG (MFG), Syntropy (NOIA), DeXe (DEXE), and Hegic (HEGIC). However, trading of these assets on the exchange itself is still unavailable.

Coinbase Custody now supports deposits and withdrawals for $VR, $CQT, $KEY, $QSP, $MFG, $NOIA, $DEXE, and $HEGIC pic.twitter.com/7YJlVMbzWU— Coinbase Assets (@CoinbaseAssets) June 1, 2022

What is Coinbase Custody? It is a custodial service for storing corporate assets. The platform is registered as a separate legal entity. The funds that are stored on Coinbase Custody are separate from those held on the exchange.

The service provides a special cold wallet for storing funds. Through Coinbase Custody, it is possible to participate in staking and voting. The platform also provides insurance services.

What happened before? Coinbase exchange is considering the native token of The Sandbox (SAND) metaverse for a potential listing. Instructions on how to buy the token using Coinbase Wallet already appeared on the exchange’s website. It is reported that the asset can only be purchased for ETH.

WSJ journalists reported insider trading on Coinbase. 46 crypto wallets participated in buying Gnosis tokens for a total of $17,3 million before listing on the exchange. The owners made a total profit of more than $1,7 million. In April, the crypto exchange had already been accused of insider trading.

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