Coinbase Head of Coinbase Brian Armstrong (Brian Armstrong) said that Coinbase Customy's custodial service is popular and still keeps more than $ 500 million in digital assets.

According to the top manager of one of the world's largest cryptocurrency exchanges, such attention to the storage service cryptocurrency and digital assets shows that institutional clients are increasingly interested in the cryptocurrency industry.

Coinbase Customy offers storage service for 14 different cryptocurrency, and in a short time it is planned to add support for another 37 assets. Armstrong stressed that for institutional clients who wish to trade on over-the-counter sites, it is not necessary to remove funds from a cold wallet and expose them to risk. Funds are listed only after making a deal.

Armstrong also said that when storing funds in the custodial service, the owner of the assets remains many ways to extract from them. You should not be afraid that only one person has access to a cold wallet. Good service will never give access to customer tools to one person - instead, several keys are used, and the larger the transaction, the greater the number of employees should be involved.

The head of Coinbase noted that although the hardware wallets are very good in terms of protection of assets, and Armstrong himself loves these decisions very much, they still do not reach the cold storage facility. When the wallet is completely disconnected from the Internet, the intruders have no opportunity to access it.

Note that the approval of the Financial Services Department of New York (NYDFS) on the creation of a Coinbase Customy Trust Company LLC Exchange received only in October last year.