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Crypto Exchange Coinbase is expanding its custodial services with the addition of 9 Ethereum (ETH)-based altcoins and two other digital assets to its list.

In a statementAmerica’s largest crypto exchange by volume says Coinbase Custody now supports Automata (To), DexTools (DEXT), Elastos (ELA), Gnosis (LARP), Reverse finance (INV), Loom Network (LOOM), Lattice (LTX), Mina Protocol (MINE), Mango (NGOM), Shping and Lido wstETH (wstETH).

Coinbase advises that the availability of newly supported crypto assets may be restricted depending on the custodial entity and customer jurisdiction.

The announcement caused rallies in most of the newly supported altcoins.

In the past 24 hours, ATA has increased by 8.18%, DEXT by 6.24%, GNO by 3%, INV by 9.46%, LOOM by 6.78%, LTX by 4.51%, MINA of 7.81%, MNGO of 5.39%, wstETH of 7.45% and ELA of 1.09%

Only one of the 11 assets is in red territory at the time of writing. Shipping is down 0.88% in the last 24 hours.

Coinbase Custody is a crypto custody service for institutional investors with deep pockets. It is designed to provide clients with a secure platform to store large amounts of crypto assets.

Amid concerns about investing in crypto assets in the wake of FTX’s collapse, Coinbase CEO Brian Armstrong recently assured customers that the exchange would not face liquidity issues like the now-defunct rival.

“So for Coinbase [FTX’s collapse] is not a problem and the reason for this is that we hold client funds individually secured. And you don’t have to take our word for it. We are a public company and therefore publish financial statements audited by a Big Four accounting firm. And when we went public in the United States, we filed and registered an S-1 with the SEC and explained to them exactly how our business operates. We showed them our audited financials and they approved us as a company to go public. »

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Featured image: Shutterstock/jovan vitanovski/Sensvector

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