Coinbase Announces Custody Plans for 40 New Digital Assets Including Ripple XRP

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On Friday, Coinbase took to Twitter to break the latest update on its plans to expand its custody service to include 40 more assets, including XRP, which is the third largest cryptocurrency by market cap.

In the blog post, the exchange revealed that they expect final testing to be completed by August 7th. And it would take  24-48 hours for trading to begin on the platform.

The institutional funds are required by law to help the custodian to hold their crypto assets and keep it safe from any kind of hack and theft. For the moment, Coinbase is a custodian for just 4 cryptocurrencies, namely Bitcoin, Ethereum, Litecoin and Bitcoin Cash.

A Coinbase spokesperson declined to provide a specific timetable for when exactly the custody support for the new assets will be available. The company also says plans to add all 40 of the assets are not definitive.

Read More: https://news.bitzamp.com/coinbase-announces-custody-plans-for-40-new-digital-assets-including-ripple-xrp/