DFS Authorizes Coinbase Global, Inc. to Form Coinbase Custody Trust Company LLC


On October 23, the Superintendent of the New York State Department of Financial Services (“DFS“) announced that the DFS has approved the application of Coinbase Custody Trust Company LLC, a wholly-owned subsidiary of Coinbase Global, Inc., to operate as a limited purpose trust company. The announcement also notes that Coinbase Inc. has held Money Transmitter and Virtual Currency licenses from DFS since January 2017 and DFS approved Coinbase Trust to offer secure custody services for six of the largest virtual currencies: Bitcoin, Bitcoin Cash, Ethereum, Ether Classic, XRP and Litecoin. Release.