Coinbase Explores Possible XRP Storage
As the largest operating cryptocurrency exchange platform in the United States, Coinbase has announced a possible custodial addition of 40 new cryptocurrencies including Ripple tokens, or XRP. Sam McIngvale of Coinbase Custody spoke through a blog, stated that the Custodial service is studying the currency and emerging cryptocurrencies for storage means only and will accelerate their addition once all security checks have been cleared.
As of now, Coinbase supports BTC, BCH, Ethereum, and LTC and plans on adding Ripple to the lineup alongside many other coins including storage of Monero, Dash, Tezos coins and more. Additionally, the company is initiating the last testing phase of ETC support on its platform and is expected to launch on the 7th of August. In June of 2018, Coinbase acquired Keystone Capital, a securities brokerage approved by FINRA that permits a different approach to crypto trading on its system.
The exchange stated that it aims to provide the best of the best in terms of trading cryptocurrencies deemed as securities and OTC trading in the near future. Although no official details have been released regarding the new deal in addition to required regulations placed to allow operating with Keystone certifications. Asiff Hirji, Chief Operations Officer of Coinbase stated that the company will require a few more months to merge with Keystone in operations should the needed approvals be granted.
Coinbase has also been in contact with domestic regulators as a means of acquiring a proper banking certification for operations and has collaborated with the United States OCC earlier in 2018. A company representative did not reveal any details regarding the meeting, however, she did state that Coinbase is dedicated to a close and joint effort with the nation’s regulators to fully comply and be approved for a license.