August 8, 2022

Coinbase Custody will support Gram, Solana and Orchid

Coinbase Custody will support Gram, Solana and Orchid

The custodial service Coinbase Custody will add support for cryptocurrencies Gram (GRM), Solana (SOL) and Orchid (OXT) after starting blockchains.

The owners of these digital assets will be able to storecoins in a Coinbase Custody secure cold wallet. The platform occupies a leading position in the market of custodial service providers, as it complies with the standards of the New York State Department of Financial Services and insures the deposits of its customers.

Telegram employees must launch blockchainTelegram Open Network (TON) until October 31 of this year, otherwise the company will have to return the money to the participants of the ICO. Therefore, most likely, Coinbase Custody will open access to the wallet to Gram owners by the end of the month. In September, the British cryptocurrency exchange Blackmoon announced its intention to list GRM immediately after the start of the TON network. Thus, investors will have the opportunity not only to store the asset in a safe place, but also to trade coins on a safe platform.

Coinbase press service said the decision tothe addition of new assets to the warehouse is due to high demand from institutional investors. According to the company's employees, after the launch of the blockchain, the owners of virtual currencies will look for a place to store coins and will prefer Coinbase Custody, since this platform is a qualified provider, acting in accordance with the law of the State of New York. The company charges a fee of 0.5% per year for storing cryptocurrency, the minimum deposit amount is $ 1 million. The insurance fund covers losses of up to $ 255 million per year.