Coinbase Prime to End Custody Support for 49 Altcoins by Aprils End
- Coinbase Prime will end support for 49 altcoins by delisting or removing them at the end of April.
- Institutional shifts in investors needs push the delisting of 49 altcoins supported on Coinbase Prime.
- Real estate tokens and assets related to niche blockchain projects are among the impacted altcoins.
An April 14 tweet by Coinbase announced the move, saying they review their supported assets on a regular basis to make sure they still satisfy their users needs. Hence, the crypto platform indicated that Coinbase Prime will no longer support custody for 49 assets.
The change will influence a series of lesser-known coins. Impacted tokens include BOSAGORA (BOA), 0chain (ZCN), pNetwork (PNT), Telcoin (TEL), and Oraichain Token (ORAI).
The list also included RioDeFi (RFUEL), Ideaology (IDEA), Cellframe (CELL), and Sentinel Protocol (UPP), each with various applications in the blockchain space. Even real-world asset tokens associated with property and investments were affected.
Some of such tokens were 1717 Bissonnet (1717), Hello Albemarle (HLAB), Draper Garland Apartments (GFDG), The Edison (EDSN), Forest Crossing Apartments (GFFC), etc.
Shift In Institutional Need
Designed to satisfy institutional investors, Coinbase Prime provides a set of services. The platform offers financing options, trading, and custody.
This custody service lets organizations safely keep digital assets, guaranteeing compliance and protection for large-scale investments. This shift for institutional customers of Coinbase Prime means they will have to liquidate or move their assets before April 30, 2025.
The decision to stop supporting these assets seems to mirror Coinbases attempts to simplify its institutional services, especially in reaction to changing regulatory expectations and rising market volatility. The businesss website still lacks clarity on whether new policies will guide future token listing evaluations.
Is the Move Part of Coinbases Long-term Strategy?
Coinbase stock fell 30% in Q1 2025, its worst quarter since the FTX collapse, despite growing listings for memecoins including Doginme (DOGINME) and Keyboard Cat (KEYCAT). The delistings might be part of a longer-term strategy to refocus on more widely adopted, higher-liquidity assets that better benefit institutional investors and reduce compliance concerns.
Binance just last week started the second phase of its Vote to Delist campaign, letting qualified users decide whether non-compliant or underperforming projects should be considered for removal from the exchange. In light of recent hacking and market crashes, removing or delisting cryptos that do not satisfy standards of current market stability is vital.
Read more: https://www.tronweekly.com/coinbase-prime-end-custody-support-for-49-alts/
Text source: TronWeekly
