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Coinbase’s Q4 accomplishments hints staking feature; possible listing of Tezos [XTZ]

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Coinbase's Q4 accomplishments hints staking feature; possible listing of Tezos [XTZ]
Source: Unsplash

Brian Armstrong, the CEO of Coinbase wrote a blog about Q4 accomplishments of 2018 and briefly mentioned the tasks they will be focussing on in the future. This blog mentions clearly that Coinbase is looking at a feature of staking to be made available in the near future and more proofs to substantiate it.

Coinbase recently partnered with TokenSoft Global Markets, a broker-dealer registered with the US Securities and Exchange Commission [SEC]. In addition to the above, Coinbase Custody has also partnered with Electronic Transaction Clearing [ETC], which is also an SEC-registered broker-dealer and FINRA member.

Moreover, Coinbase reflected upon its custody service in the blog, it stated:

“We established Coinbase Custody as a limited purpose trust company under New York State Banking Law to operate as an independent Qualified Custodian, allowing us to compliantly store more assets and potentially add new features like staking.”

Further into the blog, Armstrong mentions Coinbase’s successful partnerships/investments which conveniently includes “Staked.us”.

Staked.us is already running test nets of Ethereum [ETH]’s Casper, EOS and Cosmos. The website also stated that it has plans to add Tezos, Dfinity, NuCypher, Livepeer, Keep, Factom and Ark nodes in the coming months.

The cryptocurrency community already started this speculation on Reddit taking into consideration the above-mentioned facts. Redditors in the post speculate that Tezos could very well be the next cryptocurrency that will be added to Coinbase’s list.

Mikeroyale, a Redditor commented:



“Looks like Tezos is imminent Coinbase, have noticed their server answering to XTZ requests… “

Furthermore, Staked.us has already indicated that Tezos is live and users can delegate XZT for staking. The website also shows an annual staking yield of 9.7% for Tezos.

Another Redditor, aeaf123 commented:

“Sooner or later it seems plausible. Unless you are in the know this is all just a hypothetical anyway. Everyone would be pretty stoked about it im sure. Tezos does keep a low profile. What I think is good about that is its speaks more on its legitimacy opposed to other things that are more hype and less actual substance.”





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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.

Altcoins

Rabobank announces plans to drop its crypto-project

Sarvesh Kumar

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Robobank to drop its plans of having their own crypto-wallet
Source: Pixabay

Rabobank, a bank based out of The Netherlands, has decided to drop their idea of creating their own native cryptocurrency called Rabobit. The bank had announced their cryptocurrency plans in February 2018. Rabobank was looking at closing the gap between banks and cryptocurrency wallets. However, they have taken this decision after exploring the field for more than a year.

According to a report by Hard Fork, a spokesperson from the bank said,

“After careful consideration with our customers in mind, we recently decided that now is not the time to develop the idea further and bring it to the next phase of innovation”

Their cryptocurrency idea was part of the Rabobank Moonshot program, which was looking at boosting innovation in Fintech services. The bank does not consider their research a waste, but the same has led to valuable insights and experience in general, the spokesperson added

The spokesperson also said,



“We have learned valuable lessons about our customers and the crypto market and on how to design blockchain and crypto applications.”

The spokesperson cited regulatory uncertainty as the reason why the Dutch institution pulled out of the project. Although the bank has dropped the idea, they will be keeping a tab on the market and the regulatory changes in the industry.

Rabobank is not the only bank to drop the idea of having a cryptocurrency wallet. Recently, ABN AMRO, another Dutch bank, also dropped their plans of “Wallie,” their own cryptocurrency wallet. The reason for their drop was also with respect to regulatory conditions in the industry.





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