With the crypto-verse targeting the masses, big institutions and pensions funds are looking very forward to diversify their wallets with the new-age assets. Parallel, as it showcases a great window of profit for traders and investors it represents a good direction for new business line. Similar, Coinbase that charges to be the custodian of their digital assets.
Via a blog post, the leading cryptocurrency exchange Coinbase announced that its custody plans are growing with 40 more assets. One of the digital assets being Ripple‘s XRP the third largest by market capitalization.
The custodian asset holder requires the institutional funds by the specific individual to keep the crypto assets in this case secure. Which is why in return it charges a fee to hold them.
For the present, the exchange Coinbase offers the services for Bitcoin BTC, Bitcoin BCH, Ethereum ETH and Litecoin LTC. Based on the data released previously by the firm, it charges 0.1% monthly with a $100k set-up fee.
Some of the assets displayed on the blog post by Coinbase’s team.
This plan is a clear setup for the firm to hoist its revenue greatly from the offered asset-securing services. This goes well with the increasing number of companies that deliver crypto-trading to the community as it is beneficial for Coinbase, but where the amount will be lower.
When it is going to happen is still not specified as the team did not provide any information regarding the timeline of the plan. Additionally, it is not guaranteed all of the assets will make it.