Coinbase Custody Debuts Custody Support for XYO

Watershed Moment for Fast-Growing IoT-and-Data-Meets-Blockchain Brand
XYO

SAN DIEGO–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/ETH?src=hash” target=”_blank”gt;#ETHlt;/agt;–XYO,
the geospatial cryptonetwork, is proud to announce support for XYO on Coinbase
Custody
, the first full-service, regulated,
comprehensively-insured, and 100 percent offline custody provider in
crypto. The Coinbase Custody service mainly serves large institutions,
hedge funds and similar firms, providing them with a way to actively,
safely and easily invest in leading cryptocurrency networks.

Coinbase Custody is a powerful combination of secure, market-proven cold
storage capabilities for cryptocurrency assets, an institutional-grade
broker-dealer and attending reporting services, and a comprehensive
client coverage program. Coinbase Custody was developed around a simple
thesis: that institutions need a regulated and trusted partner to help
store their crypto assets. The approach has helped the service provider
scale to more than 60 clients and $600 million in assets under custody.
No other provider can match the organization’s track record of security
and regulatory compliance, nor its comprehensive, best-in-class
insurance coverage.

With this development, XYO will join the ranks of the 21
industry-leading cryptocurrency assets currently listed on Coinbase
Custody, including Bitcoin, Civic, Ethereum, Litecoin, Maker, OmiseGO,
Ripple, Stellar and others.

Unique, value-add features of Coinbase Custody include:

  • On-chain segregation of crypto assets
  • Split, offline private keys that require a quorum of geographically
    distributed agents to use cryptographic hardware to sign transactions
  • Multiple layers of security
  • Robust cold storage auditing and reporting

“Coinbase Custody offers a best-in-class storage option for a range of
crypto holders,” noted Sam McIngvale, Head of Product, Coinbase Custody.
“Institutions, asset issuers, miners and individuals with large crypto
holdings can all benefit from the regulated, insured and fully audited
storage platform that Coinbase Custody brings to the table. We look
forward to working with the XYO team and their ecosystem of investors
and holders as the project continues toward its goal of creating the
first geospatial blockchain network backed by cryptography.”

“As the most trusted and easiest-to-use crypto custody service for
financial institutions and hedge funds, Coinbase Custody provides the
industry’s most advanced security and insurance for digital assets
available today,” commented Arie Trouw, Co-Founder and CEO of XYO. “Now,
any institution interested in holding XYO tokens can be fully confident
in the backing of a secure custodial solution.”

About XYO

Since 2012, with a Dataist focus, XYO has developed trusted IoT
technology that connects the digital world with the physical one. In
2018, the company unveiled the XYO Network, the world’s first geospatial
blockchain network backed by cryptography. With more than 1 million
location-verifying beacons around the planet, XYO technology rivals the
GPS network, and radically transforms the world’s leading industries.
Partners include mapping giant Esri, FedEx Research Institute, Re/Max
Mexico and Spaceflight Industries. XYO Advisors come from leading
organizations including National Geographic and the World Economic
Forum. For more information, visit us at www.xy.company
and https://xyo.network.

Facebook: www.facebook.com/OfficialXYO
Instagram:
www.instagram.com/officialxyo
Twitter:
www.twitter.com/officialxyo

Contacts

XYO Media Contact
Larry Smalheiser
Head of
Communications
XYO
larry@xyo.network

error: Content is protected !!