Cardano (ADA) Users Can Now Store and Stake Their Assets in Coinbase Custody’s Cold Wallet

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Fri, 07/03/2020 - 15:37
Alex Dovbnya
IOHK CEO Charles Hoskinson announces cooperation with Coinbase Custody
Cover image via stock.adobe.com
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Input Output Hong Kong (IOHK), a blockchain research company behind the Cardano cryptocurrency, has made an announcement about partnering with Coinbase Custody.

From now on, Cardano users will be able to store and stake ADA tokens in Coinbase’s ‘institutional-grade’ cold wallet.

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Charles Hoskinson has lots of praise for Coinbase 

The tie-up became the highlight of the second day of IOHK’s virtual summit that is taking place on July 2-3.  

While commenting on the news, IOHK CEO Charles Hoskinson expressed his hope that Coinbase would become the custodian of choice for many institutional holders of ADA. 

Hoskinson praised the San Francisco-based company for its ‘safety, security, and competence’:

‘I’ve been in the space long enough to see things like Mt. Gox, and I’ve been in the space long enough to see every single year numerous exchange problems occur, and it’s refreshing to see that there is an organization that deeply cares about security, that deeply cares about quality experiences, and really gives people the time of day to work with them.’  

Since Coinbase Custody opened its doors in 2018, it has managed to accrue over $7 bln worth of assets under management. 

The Shelley hard fork is nigh   

ADA holders can delegate their tokens to stake pools while keeping them secure with the help of Coinbase Custody.

As reported by U.Today, the Shelley testnet, which went live back in December 2019, was made available for all pool operators last month.     

Cardano will wrap up its transition to Shelley with the rollout of its mainnet hard fork that is slated for July 29.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.


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