Partnership News of the Day: Binance, Oasis Labs, Coinbase Custody, Bison Trails

While major crypto exchange Binance is teaming up with data privacy software company Oasis Labs to launch the CryptoSafe Alliance, Coinbase‘s custody outfit is bringing its clients staking on Solana (SOL) tokens to enterprise-grade validators on the Bison Trails platform.

Per an emailed announcement, the CryptoSafe Alliance is an effort to bring together a global ecosystem of collaborators to combat cryptocurrency fraud, theft and money laundering, which are becoming prevalent in the Cryptoverse.

Oasis Labs “will serve as an inaugural member of the CryptoSafe Alliance and primary infrastructure provider of the CryptoSafe Alliance,” said the announcement – it will help deploy its infrastructure to create a decentralized system of sharing intelligence among members of the alliance.

Through the alliance, members will be able to share and access real-time intelligence and reports on hacks, scams, and other malicious incidents privately and without having to share sensitive industry or user data with competitors, the press release said.

Binance CEO Changpeng Zhao said that through the alliance, the major stakeholders in the cryptoverse “can make a concerted effort to safeguard the global cryptocurrency community through collaboration and open data sharing.”

As previously reported, some exchanges that suffered a security breach include South Korean based Bithumb, and New Zealand’s Cryptopia whose platform was breached in 2019.

Meanwhile, with the growing custodial service offerings in the cryptoverse, Coinbase Custody, an institutional-grade offline storage solution provider, is also one of the first cold storage custodians to offer SOL paired with “Bison Trails’ secure infrastructure platform,” the emailed announcement reads.

Coinbase Custody “users are presented with the optimal conditions to participate in the SOL network by staking with safe, offline storage of their assets,” it added.

With a similar integration of Polkadot (DOT) staking to Bison Trails’ public validators, Coinbase Custody claims it is creating for its clients “an effortless way to stake on the new networks they care about most,” as CEO Sam McIngvale stated.

By offering the SOL tokens, Coinbase Custody further expands its reach to its targeted institutional investors as it previously enabled the staking of such tokens as Tezos (XTZ). It also has an existing custody partnership with Cardano (ADA).