Coinbase Custody International Adds ERC-20 Tether (USDT) Support

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Sat, 05/30/2020 - 14:45
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Vladislav Sopov
Coinbase Custody International, an institutional-grade crypto storage solution, announced that it’s adding support for the ERC-20 version of the Tether (USDT) stablecoin.
Coinbase Custody International Adds ERC-20 Tether (USDT) Support
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Coinbase Custody International (CCI), a European multi-asset cryptocurrency storage platform for institutional clients, has enabled its customers to deposit and withdraw the Ethereum (ETH)-based version of the U.S. Dollar Tether (USDT).

ERC-20 Tether on Coinbase Custody 

According to the official announcement, both deposits and withdrawals of the ERC-20 Tethers (USDT) are now supported on Coinbase Custody International. CCI, which is a European entity for processing cryptocurrency operations, is registered in Dublin, Ireland.

Coinbase Custody International supports ERC-20 Tether deposits and withdrawals
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Coinbase Custody is a side-project of the Coinbase crypto exchange. Launched on January 30, 2020, it's a pioneer within the multi-blockchain storage sphere and governance solutions for sophisticated clients.

Coinbase Custody is focused on the unmatched level of security for the enormous amount of crypto riches. It welcomes customers with a minimum deposit starting at $1,000,000, and charges them with an implementation fee of up to $10,000.

In turn, Coinbase Custody International Inc. is an autonomous branch of Coinbase Custody focused on European jurisdictions.

Two Trends in Crypto Sphere: Institutions and Tether (USDT)

Delivering cryptocurrency services with the potential of competing against premium private banking is among the top priority directives for Coinbase ecosystems. As previously reported by U.Today Crypto News, Coinbase confirmed its acquisition of the institution-level arbitrage platform Tagomi

The deal is currently waiting for the official approval by U.S. financial watchdogs. The deal is expected to be closed by the end of this year.

Tether's increased usage is the global trend of the blockchain world. The circulating supply of the stablecoin resulted in a series of new all-times-highs (ATH) this year.

In particular, the demand for USDT skyrocketed within the sphere of Ethereum-based decentralized financial applications. It has been recently disclosed that USDT accounts for 11% of Aave Protocol (LEND) funds.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250

News
Fri, 01/15/2021 - 18:02
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Vladislav Sopov
Ethereum 2.0 enthusiasts deposited whopping sum in its contract launched six weeks ago
2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250
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While crypto markets are trying to get out of the most painful correction in this bullish cycle, the Ethereum 2.0 deposit contract accomplishes another crucial milestone.

ETH2 deposit contract surpasses $3,000,000,000 level

According to leading Ethereum network observer Etherscan, the Ethereum 2.0 deposit contract (0x00000000219ab540356cBB839Cbe05303d7705Fa) allocated more than 2.5 million Ethers. New 32-ETH stakes are transferred to it every minute.

ETH2 deposit contract breaks above $3B
Image by Etherscan

As the correction of the Ethereum (ETH) price ended, ETH is changing hands at $1,225: the $1,250 level was too difficult for bulls to conquer. Meanwhile, even at press time, it is worth almost $40,000 to join the club of Ethereum 2.0 stakers.

Therefore, the USD-denominated value of assets locked in the contract surpassed $3 billion for the first time ever and keeps surging.

It should be noted that Ethereum 2.0’s deposit contract went live on Dec. 1, 2020, heralding the start of ETH2 Pase Zero or Beacon Chain, the inaugural stage of Ethereum 2.0.

Ethereum 2.0 “entry tickets” become really expensive

At press time, more than 52,267 addresses transferred money to the deposit contract.

Ironically, Black Thursday in Crypto (March 13, 2020) was the most convenient time to join Ethereum 2.0 staking with Ether at $95. Today, Ethereum (ETH) enthusiasts should pay 13 times more to have a minimum amount of Ethers required for staking.

Ethereum 2.0 is a proof of stake (PoS) iteration of the Ethereum (ETH) protocol. It replaces mining by staking and splits the whole Ethereum (ETH) network into several interconnected sub-chains (shards).

According to Staking Rewards analytical dashboard, annualized rewards for ETH staking are estimated between 10.4 and 10.6 percent.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)