Cardano, NEO and Ripple on Shortlist for Coinbase Custody Services

Cardano, NEO and Ripple on Shortlist for Coinbase Custody Services

A list of tokens and coins being considered for storage on the Coinbase Custody platform has been announced in the cryptocurrency trading platform’s latest blog post.

Officially launched last month, Coinbase Custody is a SEC-approved custodial service for institutional clients designed for managing cryptocurrency holdings in line with traditional compliancy requirements.

While some of the proposed assets were widely expected – including Cardano, NEO and Ripple – eyebrows will undoubtedly be raised at some of those listed because of their market share, litigation issues, perceived standing in the wider community or uncertainties around the SEC classification of the token.

TRANSPARENCY

Considering previous controversies and accusations of insider trading surrounding their public exchange, Coinbase Custody were clear that they were making this “…announcement internally at Coinbase and to the public at the same time to remain transparent with our customers about support for future assets.”

The outfit also noted that the addition of an asset to Coinbase Custody is not a sign of that it will be offered in other Coinbase products or platforms.

In addition, any assets under consideration must pass certain conditions set down by the GDAX Digital Asset Framework. Coinbase have also reiterated that no timeline for integration ha been provided as they “…cannot commit to when or whether these assets will become available.”

Currently the service offers Bitcoin, Bitcoin Cash, Litecoin and Ethereum with Ethereum Classic on course to be added at some point this month.