Coinbase Receives Approval to Offer Crypto Custody Services in New York

[kreslik.news]

Coinbase, a digital currency exchange headquartered in San Francisco, has had its application approved for its wholly-owned subsidiary, Coinbase Global, Inc., to operate as a limited purpose trust company.

This Tuesday, Financial Services Superintendent Maria Vullo announced that the New York State Department of Financial Services (DFS) had approved the above application, as well as the exchange’s request to offer secure custody services for six of the largest virtual currencies through its subsidiary.

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These cryptocurrencies are of course Bitcoin, Bitcoin Cash, Ethereum, Ether Classic, XRP and Litecoin. The approvals granted yesterday ... (read more)