Coinbase Granted Custodian License by New York Regulators

  • The New York Department of Financial Services (NYDFS) has approved Coinbase’s custodian service on Oct. 23, the regulator’s recent announcement states

Cover image via U.Today

The New York Department of Financial Services (NYDFS) has approved Coinbase’s custodian service on Oct. 23, the regulator’s recent announcement states. The San Francisco-based startup will offer custody for six digital assets, including XRP that is currently not listed on its exchange. Back in August, U.Today reported that Coinbase Custody intends to add 37 cryptocurrencies, but it doesn’t mean that these assets will be available for trading.

Coinbase Custody started operating in July, pioneering in the untapped niche of the cryptocurrency market. Ex-Wall Streeter Mike Novogratz thinks that lack of custody solutions prevents the industry from reaching new heights. However, many big-name companies in the likes of Northern Trust and Goldman Sachs are already exploring custodian services.
 

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.

Recommended articles