- Coinbase Custody recently announced the listing of six new cryptocurrencies.
- One of the coins, NuCypher, also managed to find its way to the Coinbase exchange.
- The coins on Coinbase Custody will now be much easier for institutional investors to reach.
Coinbase Custody, Coinbase’s cryptocurrency escrow subsidiary, recently announced that it is adding support for six new cryptocurrencies. One of them is NuCypher (NU), which was also listed on Coinbase yesterday, December 3rd.
Coinbase Custody brings six new coins for institutional investors
Coinbase Custody made its announcement of the six new cryptocurrencies yesterday on Twitter. The exchange revealed that NuCypher (NU), REN (REN) Curve (CRV), wBTC (WBTC), tBTC (TBTC), and DFI Money (YFII) are now available for deposits and withdrawals.
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The addition comes a month and a half after the October announcement which noted that Coinbase Custody is reviewing a number of coins for a potential listing.
While it is Coinbase’s subsidiary, Coinbase Custody is a separate service that aims to offer trust services for institutional investors. In other words, the fact that these coins are supported by Coinbase Custody does not guarantee in any way that they will necessarily appear on Coinbase, or Coinbase Pro.
This, of course, does not include NuCypher, which was already listed on Coinbase yesterday. The exchange’s community is constantly requesting for new coins to be added, and Coinbase is willing to satisfy those requests. Of course, it still requires the coins to go through its strict checks and be regulatory compliant, and it seems that NuCypher passed its tests.
Listed coins saw notable price increases
Since the announcement of the listing, NuCypher saw a major surge of 130%. Following the announcement that the coin will also be supported by Coinbase Custody, its price climbed up by an additional 13%.
As for the other coins, the fact that they are supported by Coinbase Custody does mean that the listed coins will become much easier to access by institutional investors.
The announcement allowed their prices to climb up, as well. CRV, for example, surged by 8%. REN price went up by 3%, and YFII price increased by 2.5%. As for wBTC and tBTC, these are Ethereum-based versions of Bitcoin (BTC), so their prices mirror that of BTC itself, which is currently struggling to make the final step in reaching its old ATH.