Coinbase Custody, the custodian arm of the major United States-based cryptocurrency exchange Coinbase, has expanded its list of cryptocurrency offerings by adding one more digital token into it. This time the firm has listed the token of the decentralized finance (DeFi) project known as BarnBridge. BOND, the native token of BarnBridge is now supported on the platform of Coinbase Custody for institutional investors.
In an official tweet published on Monday, the company said that it has added support for the withdrawals and deposits of the BOND token on its platform. The new product is now accessible to institutional investors who can now deposit or withdraw their BOND tokens whenever they want.
— Coinbase Custody (@CoinbaseCustody) January 11, 2021
With this integration, BarnBridge has become the first decentralized finance project listed by the San Francisco-based crypto exchange’s custodial arm in the year 2021. Moreover, it is the latest project for Coinbase Custody from the world of decentralized finance.
Following this listing, the price value of BOND surged high significantly within the duration of no time. At the time of writing, it is trading in the bullish zone while holding at around $25, according to the data present on the website of CoinMarketCap.
In addition to the BOND token, there are many digital tokens from the decentralized finance space that are available on the platform of Coinbase Custody. These include AAVE the native token of the leading DeFi protocol Aave, Yearn Finance’s native governance token YFI, the leading decentralized exchange protocol Uniswap’s UNI token, SNX token of Synthetix, and several others. Institutional investors can easily access these digital tokens on the platform of Coinbase Custody.
Last year in the month of December, Coinbase Custody included various decentralized finance projects on its platform such as REN, tBTC, wBTC, and CRV. Later in that month, INJ, the native crypto token of the famous decentralized finance protocol Injective Protocol was added by Coinbase Custody on the 23rd of December.
As a qualified custodian, Coinbase’s Custodial arm provides institutional investors with the custody of assets. Also, they are provided with a safe and secure environment for storing their digital currencies over there.