Coinbase continues to expand its crypto footprint by expanding custody support to half a dozen altcoins, including four decentralized finance (DeFi) tokens.
In a new announcement, the US-based cryptocurrency exchange called It adds six new cryptocurrencies to its list of over 200 assets that are part of the Coinbase Custody Cold Storage Trust.
— Coinbase Assets (@CoinbaseAssets) April 28, 2022
Coinbase Custody is a custody service for institutional investors with a lot of money. It is licensed in New York State and was designed to provide customers with a highly secure way to store large amounts of cryptocurrency.
Coinbase’s first nod is Bifrost (BFC), which bills itself as the world’s first blockchain middleware, a DeFi protocol built on top of Kusama (KSM). The platform aims to allow engineers to easily build on top of multiple blockchains and combine the best features of different protocols. The decentralized and open-source wallet Biport went live last November.
Bifrost jumped from a weekly low of $0.13 to above $0.15 overnight but has since corrected, with BFC now up 4.63% and priced at $0.14.
Next is Coin98 (C98), based on Ethereum, a self-proclaimed “all-in-one” DeFi platform that allows users to trade, stake, borrow, lend, and earn crypto rewards.
Coin98 is currently up 2.41% and is trading at $1.32.
Also joining the list of Coinbase cold wallets is multi-chain DeFi exchange and liquidity provider DODO (DODO), built for Web 3.0. Users can create their own tokens, create liquidity pools and split their non-fungible tokens (NFTs).
At the time of writing, DODO is down 1.33% and is trading at $0.35.
Reef Finance (REEF), which caters to users of DeFi, non-fungible tokens and games, has also been added to the Coinbase Custody list. The community-driven project is both cross-chain and Ethereum Virtual Machine (EVM) compatible.
Reef Finance has seen a choppy price decline over the past month and currently, REEF is down 1.59% at the current price of $0.008 per token.
Metal (MTL), another Ethereum-based altcoin project aiming to make crypto payments mainstream, has also been approved. Metal Pay’s wallet app allows people to buy, sell and trade cryptocurrencies, as well as send money to friends.
Currently, the metal is up almost 3% and is changing hands at $2.64.
Last on the list is Prometeus (PROM), whose open-source network prioritizes freedom of expression while allowing users to monetize their data.
Prometeus is down 1.91% on the day to trade at $8.19 but remains 6.9% above its monthly low of $7.66 on Tuesday.
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