Coinbase has quietly begun supporting the Cap (CAP) token by enabling users to generate deposit addresses on coinbase.com, the mobile app, and its exchange platform. The catch: you can’t actually deposit anything yet.
The exchange will activate CAP deposits once Cap Labs, the token’s issuer, unlocks transfers.
What is Cap, and why should you care
CAP serves as the governance and revenue-sharing token for the Covered Agents Protocol, a DeFi platform built around providing verifiable USD yields, private credit, and financial guarantees.
Cap Labs, the fintech company behind the protocol, is headquartered in New York. The project has a total token supply capped at 10 billion CAP.
