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. 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.