Binance and Coinbase have made announcements for the latest additions to cryptocurrencies. In this news, we share the altcoins that the exchanges will add to their platforms. Here are the details…
Binance made altcoin announcements
Binance announced today that BEL/ETH and LIT/ETH pairs will be opened for trading at 15:00 CET. Apart from that, it lists new fiat currencies through its credit/debit card crypto purchase service. Users can now purchase STORJ, T, UNFI and WING in major fiat currencies using credit/debit cards. The new fiat currency that can be purchased with STORJ, T, UNFI and WING is announced as PLN.
Coinbase adds 70 to custody platform
On the other hand, Coinbase has added 70 new cryptocurrencies to its Custody platform, which provides custody service. Among these cryptocurrencies are projects such as ADX, BOA, CELL, CUBE, DENT, DOGEGF, EMB, FREL, KROM, MPH, OJA, PNT, PRO, SRK, UPI. You can see all of the coins Coinbase has added in the tweet thread below:
What is Coinbase Custody?
Coinbase Custody is designed to provide financial controls for institutions and companies that want to trade with cryptocurrencies such as Bitcoin and Ethereum. It was designed to provide private custody offerings to institutions after the emergence of a large number of hedge funds targeting the cryptocurrency space. In principle, Coinbase Custody aims to provide institutions with a safe and secure means of storing crypto assets such as cryptocurrencies. Provides access to audit trails, withdrawal limits, and support for multiple signers.
The platform provides phone support for institutions that want to confirm fund transfers and other account changes. Coinbase Custody requires a minimum balance of 10 million USD. It charges a $100,000 setup fee in addition to a monthly fee of 10 basis points.
Coinbase’s Custody is important as it opens a secure door for institutional investors and hedge funds to enter and operate in the cryptocurrency space. While multi-signature wallets and even hardware wallets may appeal to hardcore investors, the new platform is designed to provide a secure and stable service for companies, large businesses, and other financial players to create and securely store their own cryptocurrency offerings.
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