Important US crypto wallet provider and exchange support Coinbase has announced it’s launching a package of new products geared toward institutional investors, according to a official blog post today, May 15.
This month, New York Stock Exchange owner ICE announced its own plans to repay crypto swap contracts in BTC, suggesting it also has produced an SEC-compliant custody alternative to institutional holders. ICE’s announcement came only days after investment banking giant Goldman Sachs said it’d be launching a crypto trading table “in just fourteen days. ” With custody and regulatory hurdles apparently out of their way, many have predicted a “mature” crypto marketplace will really inevitably draw major institutional investment to the space.
Although the company reportedly already shops over $20 bln worth of clients’ crypto, according to CNBC, Coinbase Custody will be set in partnership with another party auditor, reported to become a SEC-compliant independent broker-dealer.
The four products — Coinbase Custody, Coinbase Markets, ” The Coinbase Institutional Coverage Group and also Coinbase Prime — all focus on relieving major concerns that have allegedly caused institutional investors to hold back from going into the cryptocurrency space so far, including safety and regulatory compliance.
Coinbase Custody, initially announced last year at an official Coinbase blog post, addresses the “number-one” fear of institutional investors, namely, safety. The company explains the prosecution solution for digital assets will fasten clients’ funds throughout rigorous financial controls such as multi signatory coverage, audit trails, and withdrawal limitations.
Coinbase currently has over 20 mln clients and has already traded $150 bln in digital assets on its own crypto exchange stage, according to CNBC. It allegedly valued itself at around $8 bln in an acquisition deal this spring.
Adam White, Coinbase vice president and general manager, was convinced in telling CNBC that:
Coinbase Markets, meanwhile, will be a Chicago-run electronic marketplace that offers a concentrated pool of money to all investors, and intentions to provide clearing and settlement services in future, according to Coinbase’s announcement today. Coinbase Prime will be an trading platform for institutional clients.
“We think this can unlock $10 billion of institutional investor money sitting on the sideline. We’re witnessing a rapid growth in focus adoption and awareness from the cryptocurrency industry. ”
Coinbase Targets ‘$10 Bln’ Institutional Investor Market With New Suite Of Products - April 2024
EXPERTLY REVIEWED
MOBILE FRIENDLY
FAST PAYOUTS
- CasinoRatingBonusVisit Casino
Get your 100% Match Bonus up to $1000!
200% match bonus up to 2000
Up to 5 BTC
100% match bonus + 180 free spins
Get up to 1 BTC on First Deposit!
Welcome bonus up to 1.5BTC + 250 free spins
Get your 5 BTC Welcome Bonus
Top Rated
Search
Casino List
- Bovada Casino
- 7bit Casino
- Bitstarz Casino
- Sun Palace Casino
- Ignition Casino
- Tangiers Casino
- Nitrogen Sports Casino
- Casumo Casino
- Fortunejack Casino
- Mars Casino
- Mbit Casino
- Cafe Casino
- Drake Casino
- Grand Fortune Casino
- CryptoReels Casino
- Wild Casino
- Betchain Casino
- Oshi Casino
- Bitcoin Penguin Casino
- Joe Fortune Casino
- Vegas Casino.io