Leading cryptocurrency exchange ‘Coinbase’ announces support for COMP, the token of decentralized finance, DeFi project, Compound.
In line with a recent official web-blog post published earlier on 25th June:
“Coinbase user can now purchase, sell, convert, transfer, receive, or store COMP. COMP will be available for users altogether with Coinbase-supported regions, with the exception of New York state.”
The company has also listed the token on Coinbase.com, with compatibility for iOS & Android mobile usage, the announcement added.
Compound DeFI Offering Alternative Choices For Crypto Lending
Built on Etheruem’s blockchain, Compound offer’s an alternative choice for crypto-based lending within the industry.
Coinbase Pro, the renowned trading arm of the cryptocurrency exchange giant, listed COMP on 23rd June, based on its recent 18th June announcement.
Coinbase holds close ties to Compound, because the outfit invested within the project earlier in the month of 2018, and still holds a bag of COMP as of 25th June, the blog announcement added.
The post added:
“Coinbase intends to take care of its investment in Compound for the foreseeable future and maintains internal policies that address the timing of permissible disposition of its digital assets, including COMP tokens.”