Tag: What is Coinbase custody account?

Yes, Coinbase Custody is a fiduciary under § 100 of the New York Banking Law and is licensed to custody its clients’ digital assets in trust on their behalf .

Coinbase Custody balances safekeeping of private keys with easy online client access to holdings, allowing clients to both securely and actively participate in crypto networks . Custody services include the deposit and withdrawal of supported crypto assets into a custodial account as well as staking.

Coinbase Custody is a qualified custodian Coinbase Custody operates as a standalone, independently-capitalized business to Coinbase, Inc. Coinbase Custody is a fiduciary under NY State Banking Law. All digital assets are segregated and held in trust for the benefit of our clients.

Simply put, crypto custody means securing the private key that proves you own of the funds held within your crypto wallet . In traditional banking, all custodians are financial institutions, as required by law. With crypto, however, holders have the opportunity to become their own custodians.