The crypto-exchange giant’s base offers custody support for six unknown altcoins, including four DeFi tokens

Coinbase continues to expand its crypto footprint by extending custody support to half a dozen digital currencies, including four Decentralized Finance (DeFi) currencies.

In a new announcement, a US cryptocurrency exchange She said It adds six new cryptocurrencies to its list of over 200 assets that are part of Coinbase Custody’s cold storage fund.

Coinbase Custody is a custody service for institutional investors who have a lot of money. It is licensed in the state of New York and is designed to provide customers with a highly secure way to store large amounts of cryptocurrency.

Coinbase’s first nod is Bifrost (BFC) which describes itself as the world’s first blockchain middleware, Kusama’s (KSM)-based DeFi protocol. The platform aims to allow engineers to easily build on multiple blockchains and combine the best features of different protocols. Biport, a decentralized and open source wallet, was launched last November.

Bifrost rose overnight from a weekly low of $0.13 to above $0.15, but has since corrected, with BFC now up 4.63% at $0.14.

Next up is Coin98 (C98), based on Ethereum, an “all-in-one” DeFi platform where users can trade, share, borrow, lend and earn crypto rewards.

Coin98 is currently up 2.41% and trading at $1.32.

Also joining Coinbase’s wallet cold list is the multi-chain DeFi exchange and liquidity provider DODO (DODO) built for Web 3.0. Users can create their own tokens, create liquidity pools, and split non-fungible tokens (NFTs).

At the time of writing, DODO is down 1.33% and valued at $0.35.

Reef Finance (REEF), which serves DeFi users, non-redeemable tokens, and games, has been added to Coinbase Custody’s list. The community-driven project is cross-chain compatible as well as the Ethereum Virtual Machine (EVM).

Reef Finance has seen a volatile price drop over the past month, and REEF is currently in the red 1.59% at the prevailing rate of $0.008 per token.

Metal (MTL), another Ethereum-based alternative project designed to make crypto payments mainstream, has also been approved. The Metal Pay wallet app allows people to buy, sell and trade cryptocurrencies as well as send money to their acquaintances.

At the moment, the metal is up about 3% and hands are trading at $2.64.

Last on the list is Prometeus (PROM), whose open source network prioritizes freedom of expression while allowing users to monetize their data.

Today, Prometeus is down 1.91% at $8.19 but still up 6.9% from its monthly low of $7.66 on Tuesday.

Check price action

Never miss a thing – sign up to receive encrypted email alerts straight to your inbox

Follow us TwitterFacebook and Telegram

Browse the Daily Hoodle Mix

nbsp

Check out the latest news headlines

Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should perform their due diligence before making high-risk investments in bitcoin, cryptocurrency, or digital assets. Please note that your transfers and transactions are at your own risk and that any loss you may incur is your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, and The Daily Hodl is not an investment advisor. Please note that The Daily Hodl is involved in affiliate marketing.

Featured Image: Shutterstock / klyaksun

Leave a Comment