XYO joins Coinbase Custody for deposit and withdrawal support where it joins the ranks of the 21 industry-leading cryptocurrency assets currently listed on Coinbase Custody, including Bitcoin, Civic, Ethereum, Litecoin, Maker, OmiseGO, Ripple, Stellar and others. Thus, XYO is now part of the most-trusted and easiest-to-use crypto custody service and the industry’s most advanced security and insurance for digital assets available today.
“This is an important step for our organization, as you can imagine,” commented Markus Levin, Co-Founder and Head of Operations, XYO. “In the midst of the Bear Market we’ve been consistent in our development and build-out of technology, partnership ecosystem and top-flight relationships like this. We appreciate the due diligence the Coinbase Custody team put into this decision and are honored to be part of this elite group that includes Bitcoin, Ethereum, Litecoin, Ripple and other global leaders.”
Coinbase Custody is a powerful combination of secure, market-proven cold storage capabilities for cryptocurrency assets. It is designed to provide financial controls for institutions and companies and operates as a standalone, independently-capitalized business to Coinbase. It seeks to trade digital currencies such as Bitcoin and Ethereum.
Developed around a simple thesis that institutions need a regulated and trusted partner to help store their crypto assets, Coinbase Custody is the first full-service, regulated, comprehensively-insured, and 100 percent offline custody provider in crypto. Coinbase Custody is a powerful combination of secure, market-proven cold storage capabilities for cryptocurrency assets, an institutional-grade broker-dealer and attending reporting services, and a comprehensive client coverage program. The approach has helped the service provider scale to more than 60 clients and $600 million in assets under custody. No other provider can match the organization’s track record of security and regulatory compliance, nor its comprehensive, best-in-class insurance coverage.
Coinbase Custody service mainly serves large institutions, hedge funds and similar firms, and provides them with a way to actively, safely and easily invest in leading cryptocurrency networks. All digital assets are segregated and held in trust for the benefit of their clients and intends to provide institutions with a safe and secure means to store digital assets such as cryptocurrencies – with access to audit trails, withdrawal limits, and support for multiple signers.
“Coinbase Custody offers a best-in-class storage option for a range of crypto holders,” noted Sam McIngvale, Head of Product, Coinbase Custody. “Institutions, asset issuers, miners and individuals with large crypto holdings can all benefit from the regulated, insured and fully audited storage platform that Coinbase Custody brings to the table. We look forward to working with the XYO team and their ecosystem of investors and holders as the project continues toward its goal of creating the first geospatial blockchain network backed by cryptography.”
“As the most trusted and easiest-to-use crypto custody service for financial institutions and hedge funds, Coinbase Custody provides the industry’s most advanced security and insurance for digital assets available today,” commented Arie Trouw, Co-Founder and CEO of XYO. “Now, any institution interested in holding XYO tokens can be fully confident in the backing of a secure custodial solution.”