Coinbase Custody launches support for mainnet KIN and XYO tokens

Coinbase Custody, a wholly-owned subsidiary of Coinbase offering crypto custodian services, has added support for mainnet KIN and XYO tokens.

First announced in November 2017, Coinbase Custody accepted its first deposit in June 2018. Later in October, the New York State Department of Financial Services (DFS) approved Coinbase to establish Coinbase Custody Trust Company.

The regulator approved Coinbase Trust to offer secure custody services for six cryptocurrencies including Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ether Classic (ETC), Ripple (XRP) and Litecoin (LTC). Over the past couple of months, it has added support for more than 20 cryptocurrencies including Civic, Maker, OmiseGO, Stellar and others.

According to an online post dated May 01, Coinbase Custody has started offering secure storage for mainnet KIN, allowing KIN holders to benefit from its industry-leading offline storage platform and insurance coverage.

“Coinbase Custody will add the new native implementation of KIN to the platform with KIN’s pending migration from ERC20 to mainnet,” it said.

In addition, XYO Network, a geospatial cryptonetwork, has announced that Coinbase Custody has also added support for XYO tokens.

“Institutions, asset issuers, miners and individuals with large crypto holdings can all benefit from the regulated, insured and fully audited storage platform that Coinbase Custody brings to the table,” Sam McIngvale, Head of Product, Coinbase Custody, said. “We look forward to working with the XYO team and their ecosystem of investors and holders as the project continues toward its goal of creating the first geospatial blockchain network backed by cryptography.”