Cardano’s media division, IOHK Media, announced on July 3 that the project had signed a custody agreement with Coinbase, which will allow token holders to store their assets on COINBASE Custody starting from Q4 2020.
Those who choose to store Cardano (ADA) on Coinbase Custody will be able to stake their tokens, even though the assets will be stored in a cold wallet, a feature that the service offers. The announcement was made at the Cardano2020 virtual summit, which was organized on July 2 and 3.
IOHK also noted that more news was inbound, which could suggest that the ADA token may soon be listed on the Coinbase exchange. Cardano’s ADA token is not one of the 30 assets listed on Coinbase, which is quite selective when it comes to supporting assets.
However, Coinbase has been adding more tokens in recent months, most recently adding DeFi token COMP and OMG Network (OMG). Token support usually begins with the addition of the asset on the professional trading platform Coinbase Pro, before moving to the regular trading platform Coinbase.
Coinbase revealed on June 10 that it was examining 18 different assets for inclusion - though ADA was not one of them.
