According to official announcement of Department of Financial Services of New York, state regulators have finally approved Coinbase Custody Trust Company LLC to provide cryptocurrency custody services in New York.
The regulator has authorized Coinbase’s subsidiary Coinbase Custody Trust Company LLC to provide custody services for such cryptocurrencies as bitcoin, bitcoin cash, litecoin, ethereum, ethereum classic and ripple.
Coinbase Custody Trust Company is legally a separate company from Coinbase. This means its funds and accounts will be organized separately from existing capital and funds held by Coinbase.
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