TRX & 5 TRON Based Tokens Could Soon Be Supported by Coinbase Custody 14

TRX & 5 TRON Based Tokens Could Soon Be Supported by Coinbase Custody

Quick take:

  • Coinbase Custody has announced that it is exploring supporting multiple digital assets
  • On the list is TRX and five popular TRON based tokens
  • The latter include BitTorrent (BTT), Just (JST), Just Stablecoin (USDJ), WINK (WIN) and Sun Token (SUN)
  • Coinbase Custody is a trusted crypto custodian with its core clients being institutional investors
  • Support on Coinbase Custody could open the door for the listing of TRX on Coinbase

The team at Coinbase Custody has announced that they are exploring the addition of multiple digital assets as part of their plan to better serve their clients spread out across the globe. Notable digital assets on the list include Tron (TRX) and five tokens running on the TRON network. The latter include BitTorrent (BTT), Just (JST), Just Stablecoin (USDJ), WINK (WIN) and Sun Token (SUN).

A full list of the digital assets being explored by Coinbase Custody can be found below. The team at Coinbase Custody also explains that not all will be available globally given the different laws and regulations regarding digital assets based on individual jurisdictions.

Aave (AAVE), Amp (AMP), Ampleforth (AMPL), Ankr (ANKR), ArCoin (ArCoin), Audius (AUDS), Barnbridge (BOND), BitTorrent Token (BTT), Centrifuge (RAD), Conflux Network (CFX), Curve (CRV), DFI.Money (YFII), Elrond Gold (EGLD), JUST (JST), JUST Stablecoin (USDJ), Meta (MTA), MovieBloc (MBL), mStable (MUSD), Neo (NEO), Nervos (CKB), Nexus Mutual (NXM), NKN (NKN), NuCypher (NU), Ontology (ONT), Paxos Gold (PAXG), Paxos Standard (PAX), Reserve (RSV), Reserve Rights (RSR), Request Network (REQ), Skale (SKL), SUN Token (SUN), tBTC (TBTC), Terra (LUNA), The Graph (GRT), Tron (TRX), VeChain (VET), WING (WING), WINK (WIN), Wrapped Bitcoin (WBTC)

Coinbase Custody’s Focus on the Asia-Pacific Region

Coinbase Custody is also currently exploring ways of expanding its user base in the Asia-Pacific region as explained in the following statement.

Over the coming months, we plan to support more assets and launch new features that will continue to demonstrate that Coinbase Custody is one of the most trusted and innovative places for institutions to store their crypto assets.

Part of growing the cryptoeconomy, Coinbase Custody will also be exploring ways to serve more institutional clients across the Asia-Pacific region. Most recently, Coinbase Custody has added support for FTX (FTT) and Serum (SRM).

Support on Coinbase Custody Could Open the Door for Tron (TRX) Being Listed on Coinbase

The Coinbase Custody arm of the Coinbase company is geared towards storing digital assets in a secure manner for individuals and institutions that own large crypto holdings. Coinbase Custody is separate from the trading platform that retail traders are very much familiar with. A digital asset being supported on Coinbase Custody does not usually translate to an automatic listing on the Coinbase trading platform but could be a gateway to it.

In this case, it would be safe to conclude that a listing of Tron (TRX), BitTorrent (BTT), Just (JST), Just Stablecoin (USDJ), WINK (WIN) and Sun Token (SUN) could be possible on Coinbase once the team at the exchange is certain they would not be treated as securities in the United States.