Grayscale will deposit $ 2.7 billion in crypto assets to Coinbase Custody Investment company Grayscale Investments has hired Coinbase to hold assets under its management, CoinDesk writes.

Grayscale will deposit $ 2.7 billion in crypto assets to Coinbase Custody

Investment company Grayscale Investments attracted a unit Coinbase for storage of assets under its management, writes CoinDesk.

Earlier, Coinbase CEO Brian Armstrong said that $ 1 billion in assets had already been placed in the Coinbase Custody, which will now add another $ 2.7 billion at the disposal of Grayscale, according to the latest available reports..

Grayscale's transferable assets are represented by Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Stellar Lumens, XRP and Zcash. Coinbase Custory also intends to pursue storage of the Horizen token for Grayscale after receiving regulatory approval.

Most of Grayscale's assets were previously held by another custodian company, Xapo. Coinbase Custody started to provide services Grayscale July 29. Coinbase is a regulated entity operating under NYC banking law.

Coinbase Custody CEO Sam McKingvale explained that his company adheres to the same fiduciary standards as national banks and also provides one of the deepest and broadest insurance coverage in the entire cryptocurrency industry..

Under the new agreement, Coinbase Custody will initially store Grayscale assets for three years and charge a commission based on the amount transferred to her. Grayscale also said it contacted 30 similar service providers before making its choice..

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