Prominent Internet company The9 Limited announced that Coinbase Custody, a wholly owned subsidiary of Coinbase Global Inc, has become the custodian for The9’s digital assets.
The9 plans to deposit a portion of its mined cryptocurrencies at Coinbase Custody. 200 Bitcoin will be deposited into The9’s segregated cold storage account at Coinbase Custody as the first batch. The9 might occasionally increase deposits into this custody account as more cryptocurrencies are mined.
The company will be storing the rest of its digital assets in different cold wallets in order to comply with its risk mitigation and management policies.
Coinbase Custody is one of the global leaders in qualified digital asset custody and a fiduciary under NY State Banking Law. All of the digital assets stored in their secure custody solution are segregated and held in trust for the benefit of clients.
