The German Media Giant Will Store Celo Tokens on Coinbase Custody

German telecommunications company, Deutsche Telekom, has chosen the Coinbase Custody crypto solution offered by American exchange giant Coinbase to store its Celo tokens.

According to the press release, Deutsche Telekom chose Coinbase Custody due to the robustness of its security protocols.

In April of this year, Deutsche Telekom invested in Celo, becoming the first telecommunications member of the Celo Alliance for Prosperity. In addition to purchasing Celo tokens, Deutsche Telekom’s subsidiary T-Systems MMS has become a validator on Celo’s mobile decentralized financial network.

After Coinbase Custody received approval from the German Federal Financial Supervision Authority in June, Deutsche Telekom turned its attention to it. Coinbase became the first cryptocurrency exchange in the country to receive FDA approval.

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