Coinbase has stunned the cryptocurrency world once again with a fresh announcement that the exchange has begun what they call exploratory research on adding 40 new assets including XRP, which is the third biggest cryptocurrency by market cap. A few of those assets come as a surprise, while others seem to have been nearly a given for some time now given their general growth.
This time is no different as XRP fans are once again expressing their serenity and contentment.
Currently, Coinbase is acting as a custodian for cryptocurrencies that is Bitcoin, Bitcoin Cash, Ethereum Litecoin. According to the company information, it is also charging one percent a month in addition to a fixed fee of $100,000 where users are supposed to store at least $10 million. Among the other notable cryptocurrencies that Coinbase plans to store are Monero, Dash, Tezos, and Telegram.
The company also plans to add all 40 of the assets which are not decisive. By adding new crypto assets, Coinbase is self-assured to raise its income from custody services. This is important because a growing number of companies are offering cryptocurrency trading, which has been a lucrative business for Coinbase, however, there will be some restrictions and limitations that would drop in the future.
At present, Coinbase tallies the funds such as Polychain Cap and Multicoin Cap amongst its custody users. By the end of 2019, the company aims to have more than 200 institutional customers and store at least $30 billion under custody.
In the meantime, Coinbase also revealed on Friday that buyers will be able to purchase and sell the asset called as Ethereum Classic starting from Thursday. The move comes after the company announced in June it would add the cryptocurrency, which is now the 14th biggest, according to the news in Fortune.
The post Coinbase Expands Its Reach, Includes XRP And 40 Digital Assets appeared first on OWLT Market.
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