Coinbase Custody, an institutional-grade offering provided by one of the largest US-based cryptocurrency exchanges, Coinbase, is prepping to offer Tezos staking.
This news comes to us shortly after the platform already noted that it would be providing Tezos support to its many customers across the world.
Essentially, Coinbase Custody offering this feature would ensure that institutional money will get put into cryptocurrencies like Tezos, as the platform represents a much safer way for those with the big bucks to get involved.
If you’re unaware of it, Coinbase Custody essentially provides big institutions ways of easily accessing and storing cryptocurrencies like Bitcoin and Ethereum. Generally, offerings like these start out with more stable offerings and then eventually expand to more experimental ones as time goes on. This is exactly the case here.
Investors getting involved on the platform will have access to withdrawal limits, audit trails, and much more – something that traditional accounts don’t have as much access to.
Coinbase Custody isn’t something that lower-tier investors can get to. The platform requires that those applying hold a minimum balance of $10 million. That and there is a setup fee of $100,000 for these companies to even get started. It’s definitely holding up to its name as institutional only.