The UDO Token was Added to Coinbase Custody
On September 16th the UDO token was added to Coinbase Custody. This is a huge milestone for the project and validation for our vision. We know that the markets are not giving the best news, but it's at times like this when building foundations is important.
Here while most people will focus on prices, we are concentrating on creating the best product for the future of crypto. The possibilities are endless and we are seeing the first fruits of the work put into the Unido EP platform.
What's Coinbase Custody?
Coinbase Custody aims to provide institutions and companies that want to acquire cryptocurrencies with an interface to do so. Coinbase Custody provides this service to its institutional clients and the tokens listed there are compatible with the Coinbase crypto wallet.
Coinbase Custody is not for the general public nor is it open to them. This is because the service requires a minimum balance of 10 million USD, it charges 100,000 USD as a setup fee, and a monthly fee of 10 basis points. Their main focus is to provide them with access to audit trails, withdrawal limits, and support for multiple signers. In this way, these institutional investors can conform to existing regulations and financial best practices. The platform provides phone support to institutions that want to confirm fund transfers and other account changes.
Why is this important for UDO?
First, UDO is now added to one of the largest portals for crypto institutional investors. Many of the most important financial players in the crypto market are part of Coinbase Custody. Now all of the entities have access to UDO and are being exposed to the ideas behind the project.
The exposure alone is meaningfully advancing the reach of UDO and by extension the Unido EP platform. The participants in Coinbase Custody also tend to be market makers on other platforms. This also means they will be considering UDO for future strategies.
Finally, Coinbase Custody is one of the steps to enter the larger Coinbase ecosystem. Many of the tokens and crypto coins listed today on Coinbase were listed on Coinbase Custody first. Of course, that's not a guarantee that it'll happen, but it's a very encouraging sign.
The Unido EP is on track and the utility of UDO is only at its infancy. Coinbase Custody marks an important milestone in our journey, but one of many more to come. We are now even more excited for all the things the future holds for Unido, the project and our community.
About Unido EP
Unido EP takes the complexity and expense out of digital asset management for organizations with sophisticated corporate governance needs. Our patented, end-to-end platform seamlessly automates corporate governance and self-custody of crypto assets so you can securely store, manage and invest in crypto without massive overheads.
Unido EP comes with a web-based dashboard and a decentralized application (dApp) featuring a robust set of DeFi tools, easy-to-set-up authority regimes and iron-clad security. All of this is inside a complete digital asset management platform, built with financial institutions in mind but tailor-made for any organization or individual’s needs.