LCX Token Now Supported by Coinbase Custody
by LCX Team · · Updated October 19, 2021
We are thrilled to announce that Coinbase Custody supports LCX tokens, enabling compliant and secure storage of LCX tokens via the Coinbase Custody solution.
Coinbase Custody requires a minimum balance of $500,000 to open an account according to their website. In contrast to this, a recent blog article says “Coinbase Custody requires a minimum balance of $10 million USD, and charges a setup fee of $100,000 USD in addition to a 10 basis points fee that is charged monthly”. In any way, this explains that Coinbase Custody is made for institutional and corporate investors.
Coinbase adds LCX Token to Coinbase Custody
LCX Token, the utility token of the LCX Ecosystem, can now be deposited, stored and withdrawn by institutional firms at Coinbase Custody.
You can now find LCX Token in their list of all supported assets at Coinbase Custody (just search for “LCX”). In addition you can find LCX Token listed in the legal FAQ of Coinbase Custody.
Institutional Investor interest in Crypto assets has increased significantly over the last two years, with investment funds seeking exposure to the most traded cryptocurrencies such as BTC and ETH. Coinbase Custody was launched to help institutional investors securely store digital assets. With a focus on institutional investors, Coinbase paves the way for institutional money to enter the digital currency space.
Coinbase Custody is an independent entity built on Coinbase’s crypto-first DNA, offering highly sophisticated and reliable custody solutions. Coinbase Custody offers clients access to the secure, institutional-grade offline storage solutions via their US based entity which is NYDFS-regulated and their Ireland entity for international clients.
Coinbase Custody Is Made for Institutional Investors
Coinbase custody is a qualified custodian where all digital assets are segregated and held in trust for the benefit of our clients, providing financial control for institutions and companies seeking to trade digital currencies. Coinbase Custody undergoes regular financial and security audits by external firms and has the industry’s leading insurance policy. Coinbase Custody has provided custody services through cold-storage solutions with an unsullied track record for the past seven years.
The sophisticated offline storage capabilities through Coinbase Custody provide a layer of security that enables safe and compliant access to the LCX Token for institutional investors using Coinbase Custody.
LCX Token Also Available at Coinbase Wallet
Coinbase offers a non-custodial mobile application called Coinbase Wallet, which supports LCX Token as well. Coinbase Wallet users can deposit, store and withdraw LCX Token and manage many other cryptocurrencies to keep full control of their crypto assets. In addition to this Coinbase has also already added LCX Token in their market and price information platform. also extending Coinbase Wallet for LCX Token https://wallet.coinbase.com/.
We are delighted to join the ranks of leading crypto projects in Coinbase Custody and look forward to the subsequent steps on this journey. For more details about other assets, one can go through this link https://custody.coinbase.com/assets.
