Saad Ullah
Coinbase Prime, the institutional trading platform by Coinbase, announced it will terminate custody support for 49 digital assets at the end of April following their latest quality standards review.
Coinbase Prime Platform to Cease Support for Multiple Assets
Coinbase Prime, an integrated platform offering trading, financing, and custody services to institutional clients, has officially announced that it will discontinue custody support for 49 cryptocurrency assets effective at the end of April. This decision comes as part of Coinbase's ongoing commitment to maintain quality standards across its prime brokerage platform for institutions.
The announcement was communicated through the official Coinbase Institutional account on X (formerly Twitter), where the company stated: "We regularly evaluate the assets we support to ensure they continue to meet our standards. Based on recent reviews, Coinbase Prime will end custody support for 49 assets, effective the end of the month."
The company's systematic approach to asset evaluation underscores its dedication to providing institutional clients with access to digital assets that meet specific quality and compliance benchmarks. This regular review process helps ensure that the platform maintains its reputation for reliability and security in the institutional cryptocurrency market.
Coinbase Identifies 49 Tokens for Removal from Custody Services
In an attachment to its tweet, Coinbase provided comprehensive details regarding the affected cryptocurrencies. The assets slated for delisting as of April 14, 2025, include several tokens across various blockchain ecosystems: VideoCoin (VID), Coffee Token (CFT), Sentinel Protocol (UPP), Cellframe (CELL), Ideology (IDEA), Dorayaki (DORA), CPUCoin (CPU), SIREN (SI), Oraichain Token (ORAI), UniLend Finance (UFT), Telcoin (TEL), and E-RADIX (EXRD), among many others.
The company clarified that Coinbase Prime will terminate custody support for all 49 assets across all jurisdictions by the end of the current month. This universal approach suggests that the decision was based on platform-wide standards rather than region-specific regulatory concerns, though Coinbase did not explicitly detail the specific criteria used in the evaluation process.
For institutional investors currently using Coinbase Prime to custody these assets, this announcement provides important notice to make alternative arrangements before the support termination date. The comprehensive nature of the delisting affects a diverse range of tokens serving various functions within the cryptocurrency ecosystem.
Coinbase Announces Additional Platform Updates and New Listings
While announcing the removal of certain assets, Coinbase has simultaneously added new cryptocurrencies to its consumer platform. In recent listings, KernelDAO (KERNEL) and Wayfinder (PROMPT) have been made available on the Coinbase platform, including both iOS and Android mobile applications. These additions allow Coinbase customers to buy, sell, convert, send, receive, and store these newly listed assets.
The company has also scheduled the suspension of trading for Gemini Dollar (GUSD) and GYEN (GYEN) on May 7, 2025, at approximately 2:00 p.m. ET. This trading suspension will be implemented across multiple Coinbase services, including Coinbase (Simple and Advanced Trade), Coinbase Exchange, and Coinbase Prime, affecting users across the company's entire ecosystem.
Additionally, Coinbase plans to suspend trading for Media Network (MEDIA) on April 15, 2025, at around 2:00 p.m. ET. In contrast to these suspensions, the platform has also announced the introduction of several new assets: Definitive (EDGE), doginme (DOGINME), and Keyboard Cat (Base) (KEYCAT) are now live on Coinbase and available through its mobile applications on both iOS and Android devices.
Coinbase Continues Strategic Asset Management Amid Evolving Crypto Market
The simultaneous delisting and addition of various cryptocurrencies reflect Coinbase's dynamic approach to asset management on its platforms. This strategy allows the company to maintain relevance in the rapidly evolving cryptocurrency market while also adhering to quality standards that align with both regulatory expectations and institutional client demands.
For institutional investors using Coinbase Prime, these changes highlight the importance of staying informed about platform policies and potential custody transitions. The removal of 49 assets represents a significant adjustment to the platform's offerings and may require clients to reassess their digital asset custody arrangements.
The crypto industry has historically seen cycles of asset listings and delistings across major exchanges as platforms continually refine their offerings based on market conditions, regulatory developments, and internal standards. Coinbase's latest announcement continues this trend of strategic asset curation across its various services, balancing expansion with quality control.
As the cryptocurrency ecosystem continues to mature, these types of platform adjustments are likely to remain common practice among major service providers seeking to navigate the complex landscape of digital asset management while serving both retail and institutional clients effectively.
Saad Ullah
