Cardano and Coinbase Enter Custody Partnership

Cardano has entered a custody agreement with major crypto exchange Coinbase, stating that near the end of the year, holders will be able to store their ADA in Coinbase’s cold storage, as well as stake their funds. According to the agreement, ADA holders will gain the option to store their assets in Coinbase Custody’s cold storage, but without losing the ability to delegate their stake, the emailed press release said.

The custody agreement enables IOHK “to offer the same secure storage solutions that can be found in traditional finance to ADA holders, without sacrificing what makes Proof of Stake blockchains special – being able to participate in the network,” Hoskinson said. He added that IOHK hopes that “Coinbase can be the custodian of preference for many institutional holders of ADA and other people who have large amounts” of it.

Timeline of Cardano