The recent announcement of currency exchange cryptocurrency United States, leading Coinbase have shown a glimmer of hope for digital assets is reduced in the pressure on sales. Coinbase Custody is currently exploring a range of new digital assets. The announcement was made by the leader of the product in Coinbase Custody, Sam McIngvale.
Some of the assets that are considered for listing include-XRP, NEO, EOS, Monero (XMR), Dash (DASH), NEM (XEM), VeChain (VEN), Qtum (QTUM) and ICON (ICX) and much more. However, a blog post explaining that "these Assets are only considered by the Custody right now, and the announcement was no relation to the product-based trading."
Digital assets will be added just for storage only. In addition, the list will be accelerated but digital asset security will be guaranteed. Sam McIngvale adds:
"At the moment, we have yet to consider these assets to trade. We are making this announcement internally in Coinbase and to the public at the same time to remain transparent with our customers about support for future asset. "<
Coinbase custody worked for added support as much as possible for currency cryptocurrency. Although most of these digital assets will not be traded on exchanges, but still have a chance to be a safe storage place for large quantities.
This is not the first time Coinbase Custody made a comment like this is to make sure that their intentions are not misunderstood by authorities.
In the US, it is not clear which digital assets should be regarded as a security token. And Coinbase, as we now know, would like to stay on the safe side to avoid a conflict with the Security Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
Her blog also said that the assets that are added to Coinbase Custody does not guarantee that they will be added to other products at Coinbase. "Additional assets to trade must pass our Digital Asset Framework." In addition, more updates on the process that led to the addition of the above assets in Coinbase Custody will be released when the engineering work in progress. Token ERC20 will also be added on Coinbase Custody. A complete list of digital assets that are currently being explored can be found here.
In other news from Coinbase, support Ethereum Classic (ETC) are in the final stages of testing and trading will be aired for less than a week from now. Coinbase engineering has completed most of the process for adding a new asset to the platform. The official announcement on the official Coinbase Blog says:
"We expect the final testing will be completed on Tuesday, August 7, at which point we will announce that we are ready to receive incoming ETC. We intend to allow 24-48 hour transfer through Coinbase Pro and Coinbase Prime before enable Commerce. "
Coinbase Custody has the full capability to support transfer of entry and withdrawal ETC. Coinbase Markets are also expected to add support for ETC. There will be approximately 24-48 hours are set aside for transfer through the pros/Prime before the opening of the market.
At the Question and answer at the Coinbase Blog, make it clear that trading company ETC will be available for trading at all locations of the current Coinbase.