Coinbase has added more than a dozen altcoin projects to its custody services support. With this move, the leading crypto exchange continues to significantly expand its crypto footprint.
Good news for 16 altcoin projects from Coinbase
As we reported onKriptokoin.com , Coinbase has made a new addition announcement. Coinbase, a US-based cryptocurrency exchange, said it has added 16 new altcoin projects to its asset list. Coinbase Custody cold storage trust, a dozen of which are built on Ethereum (ETH), has more than 200 cryptocurrencies on its asset list.
As it is known, Coinbase Custody provides a custody service for institutional investors with big money. Based in New York State, Coinbase Custody was designed to provide customers with a secure way to store large amounts of cryptocurrencies.
Listed altcoin projects: CPU, CRE, CVX, GAL, LMR, and JUP
First altcoin approved by Coinbase project CPUcoin (CPU). Altcoin calls itself the Airbnb of CPU/GPU solutions. Also, a computing power provider for decentralized applications (DApps).
Next up, Carry Protocol’s native token CRE. Carry Protocol is an ecosystem that helps consumers both protect and monetize their data while interacting with traders and advertisers. Coinbase also added Convex Finance (CVX) to Custody. Convex Finance, on the other hand, is a yield optimization DeFi protocol built on Curve Finance (CRV).
Project Galaxy (GAL) enables people to collect digital identity information through online behavioral data. The Web3-focused project “seeks to build better products and more engaging communities. For this, it aims to create an “open and collaborative credential data network”.
Another ERC-20 token joining Coinbase Custody is Lumerin (LMR). The altcoin decentralizes blockchain mining hash power through an open marketplace and smart contracts. To achieve this, it directs data for the Web3 internet.
Another added altcoin Jupiter (JUP), a Singapore-based project. Jupiter offers a variety of products including Gravity for DApp development, Leda marketplace for minting and selling Non Fungible Tokens (NFT) as well as Jupiter wallet.
Other projects on the list: NEST, UMEE, XSGD, HOPR, WAMPL, ROSE
Decentralized oracle Nest Protocol (NEST) ), aims to ensure price accuracy for DeFi. Umee (UMEE) is a DeFi platform that allows users to both borrow and lend. XSGD is a stablecoin that aims to peg to the Singapore dollar, which is currently equivalent to $0.72. HOPR aims to solve what it calls Web3’s Achilles heel by hiding metadata to preserve transport layer privacy.
Also adds Wrapped Ampleforth (WAMPL) to Coinbase Custody list. The altcoin is the packaged version of the Ampleforth (AMPL) DeFi token that aims to achieve price-supply balance. Privacy and scalability ecosystem Oasis Network (ROSE) describes itself as the first Blockchain network to support secret smart contracts. The altcoin is a medium-sized Ethereum competitor.
And other altcoin projects: DESO, HIGH, OM and ALK
Last ERC-20 token to be added, layer-1 Blockchain Project Decentralized Social (DESO). The altcoin says it protects users and creators from central authorities. It also redefines the nature of social media applications by solving scalability limitations.
The open world metaverse game Highstreet (HIGH) offers an online store with virtual real estate and original, limited edition items. The game is played via VR on standard computers and smartphones.
MANTRA DAO (OM), a decentralized autonomous organization DeFi protocol. Altcoin wants to create a community-driven, transparent and decentralized ecosystem for Web 3.0. It aims to leverage community wisdom for this. The last altcoin added to Coinbase Custody was Alkemi Network DAO (ALK). The altcoin seeks to bridge the gap between central finance and DeFi through its “institutional-level liquidity network”.
