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Crypto Exchange Giant Coinbase Offers Custody Support for Six Little-Known Altcoins, Including Four DeFi Tokens

Coinbase continues to expand its crypto footprint by extending custodial support to half a dozen altcoins, including four decentralized finance (DeFi) tokens.

In a new announcement, the US-based cryptocurrency exchange said it adds six new cryptocurrencies to its list of over 200 assets that are part of the Coinbase Custody cold storage trust.

Coinbase Custody is a custodian a service for institutional investors with lots of money. It is licensed in New York State and designed to provide customers with a highly secure way to store large amounts of cryptocurrency.

Coinbase’s first nod is Bifrost (BFC) which bills itself as the world’s first blockchain middleware, a DeFi protocol based on Kusama (KSM). The platform aims to allow engineers to easily build on multiple blockchains and combine the best features of various protocols. Its decentralized and open-source Biport wallet went live last November.

Bifrost surged overnight from a weekly low of $0.13 to above $0.15, but has since corrected with BFC now up 4.63% and priced at $0.14.

Next up is Coin98 (C98), based on Ethereum, a self-proclaimed “all-in-one” DeFi platform where users can trade, stake, borrow, lend, and earn crypto rewards.

Coin98 is currently up 2.41% and trading at $1.32.

Also joining the list of Coinbase cold wallets is the multi-chain DeFi exchange and liquidity provider DODO (DODO) which is built for Web 3.0. Users can create their own tokens, create liquidity pools, and split their non-fungible tokens (NFTs).

At the time of writing, DODO is down 1.33% and valued at $0.35.

Reef Finance (REEF), which caters to users of DeFi, non-fungible tokens, and gaming, has also been added to the Coinbase Custody slate. The community-driven project is compatible across chains as well as the Ethereum Virtual Machine (EVM).

Reef Finance has seen a choppy price decline over the past month, and currently REEF is in the red by 1.59% at a prevailing rate of $0.008 per token.

Metal (MTL), another Ethereum-based altcoin project designed to make crypto payments mainstream, has also been approved. The Metal Pay wallet app allows people to buy, sell, and trade cryptocurrencies as well as send money to acquaintances.

Currently, the metal is up nearly 3% and changing hands for $2.64.

Last on the list is Prometeus (PROM), whose open-source network prioritizes freedom of expression while allowing users to monetize their data.

Prometeus is down 1.91% on the day and priced at $8.19, but remains up 6.9% from its monthly low of $7.66 on Tuesday.

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Featured Image: Shutterstock/klyaksun