Evolve Appoints Coinbase as Sub-Custodian of Its Digital Assets

02/23/2023 01:14 • Blockchain Briefs • 81 views

On February 23, Evove, a Canadian financial company, has appointed Coinbase as the sub-custodian of all digital assets, involving a US $148 million digital asset ETF listed on the Toronto Stock Exchange.

Canadian financial company Evolve has appointed Coinbase as the sub-custodian of digital assets

Analysis based on this information:

Evolve, a Canadian-based financial company, has selected Coinbase as their sub-custodian for its digital assets. Their digital assets include a $148 million digital asset ETF, which is now listed on the Toronto Stock Exchange.

The appointment of Coinbase as their sub-custodian highlights the growth of the digital asset market and the rising demand for blockchain technology. The decision was made after a rigorous selection process where various custodian services were evaluated.

Evolve’s move indicates their commitment to safeguarding their digital assets and ensuring maximum security for their investors. Coinbase will be responsible for holding, verifying, and administering the digital assets. The sub-custodian will also maintain the digital assets’ security by implementing best practices and industry-standard security protocols.

The decision to appoint Coinbase as their sub-custodian also indicates the company’s confidence in the security measures implemented by Coinbase. Coinbase is known for its robust security measures and compliance with international regulations. They have implemented multiple layers of security protocols, including multi-factor authentication, encryption, and cold storage, to secure digital assets.

Moreover, the appointment highlights the growing interest of traditional financial institutions in the digital asset market. More and more traditional financial institutions are looking to incorporate digital assets into their portfolio, making long-term investments in cryptocurrencies, and exploring the use of blockchain technology in their businesses.

In conclusion, the appointment of Coinbase as Evolve’s sub-custodian for their digital assets is a significant milestone in the growth of the digital asset market. It highlights the increasing demand for blockchain technology and the growing confidence in the security measures implemented by companies like Coinbase. The decision is also an indication of the traditional financial institutions’ growing interest in the digital asset market and their willingness to explore new investment opportunities.

Keywords:
Evolve, Coinbase, sub-custodian, digital assets, ETF

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Evolve Appoints Coinbase as Sub-Custodian of Its Digital Assets

Canadian financial company Evolve has appointed Coinbase as the sub-custodian of digital assets

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