Coinbase Custody, a Qualified XRP Custodian


Coinbase announced on its company blog that “Coinbase Custody has obtained a license under New York State Banking Law to operate as an independent Qualified Custodian,” and that “Coinbase Custody will operate as a Limited Purpose Trust Company chartered by the New York Department of Financial Services (NYDFS).”

Another key step in the maturation of the asset class. Coinbase Custody now Qualified Custodian and fiduciary through NY State Trust Charter. Same rigorous standards as some of the largest financial institutions in the country

— Asiff Hirji (@AsiffHirji) October 23, 2018

Coinbase Custody secures XRP

NYDFS issued a press release explaining their approval of Coinbase Custody Trust Company LLC to operate as a limited purpose trust company, stating “Coinbase [Custody] Trust to offer secure custody services for six of the largest virtual currencies: Bitcoin, Bitcoin Cash, Ethereum, Ether Classic, XRP and Litecoin.”

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