In a day filled with Coinbase news, the company also announced on its blog that it has received official liscensing from the New York Department of Financial Services in order to open new company Coinbase Custody Trust Company LLC. This independent entity will offer investors institutional grade custody solutions for many popular cryptos.
Today, we’re proud to announce that Coinbase Custody has obtained a license under New York State Banking Law to operate as an independent Qualified Custodian. https://t.co/6uGZG0UzvF
— Coinbase (@coinbase) October 23, 2018
The blog announcement mirrors a press release that confirms:
“DFS AUTHORIZES COINBASE GLOBAL, INC. TO FORM COINBASE CUSTODY TRUST COMPANY LLC
DFS Also Approves Coinbase Trust to Offer Custody Services of Bitcoin, Bitcoin Cash, Ethereum, Ether Classic, XRP and Litecoin”
Yes, you read that right, in addition to many assets already listed on Coinbase, they have also been approved for custodial services of XRP. This point was not missed by twitter:
XRP approved for coinbase… will they list it?https://t.co/LHMtN146W9
— Daniel Joseph (@stlghostrider) October 23, 2018
100% AUTHENTIC!!! You can go directly to the website and do a search and find the article. Coinbase will be listing XRP! Why else will they be getting approval for Custody Services??? Thank you @crypto_smo for the heads up on this article. pic.twitter.com/3dc5UlRQCo
— Bleeding Crypto (@Bleeding_Crypto) October 23, 2018
However some pointed out that being approved for custody services is not the same as offering them, much less listing the currency:
Please temper your expectations. Coinbase is like the girl you dated in high school that just liked to tease you…
They do not list XRP as a supported asset for custodial services… pic.twitter.com/pel06hfhBT
— Richard (@rich33584) October 23, 2018
Of course, none of this has stopped the price from pumping based on the news. XRP is currently up 2.67% to $0.464 according to Coin Market Cap.
So to be clear, Coinbase has not announced that they are listing XRP, or even offering custodial services yet. It has however been granted liscense by the NYDFS to do so.