Coinbase Custody adds Maker governance support
Nearly six months after launching its cryptocurrency staking service, Coinbase Custody has announced staking support for MKR, MakerDAO's native asset.
Clients that hold MKR can now participate in MakerDAO's governance directly on Coinbase's custodial platform. According to Coinbase, crypto asset managers typically have to withdraw their funds from custody providers to participate in on-chain governance, adding risks such as loss or theft.
The next major MakerDAO governance vote is for Multi-Collateral Dai, which will take place Nov. 15.