ibusinesslines.com
ibusinesslines.com December 13, 2018


Coinbase Announces the Launch of New Products for Institutional Investors

17 May 2018, 04:09 | Kelvin Horton

Coinbase Announces the Launch of New Products for Institutional Investors

Coinbase Announces the Launch of New Products for Institutional Investors

Coinbase Custody combines its cryptocurrency security with third-party auditing and financial reporting validation that operates at a standard of an SEC-regulated custodial-broker-dealer.

The first product, Coinbase Custody, allows institutions to store cryptocurrencies in crypto vaults.

If institutional investors take the bait - and judging by announcements from banking giants such as Goldman Sachs, they will - Coinbase's new tools will clear the path for an even larger outpouring of money into cryptocurrencies. Finally, Coinbase is announcing an institutional coverage group headquartered in New York City to provide the highest level of service to clients.

Coinbase will open a new office in Chicago with a talent pool of best engineering minds.

"We have leveraged our experience safely storing more than $20 billion of cryptocurrency to create Coinbase Custody, the most secure crypto storage solution available", the firm said today. Coinbase Markets will provide a centralized pool of liquidity for all Coinbase products as well as deliver a range of new features including latency performance, institutional connectivity and access, on-premise datacenter colocation services, as well as settlement and clearing services.

Coinbase Custody focuses on addressing the topmost concern that institutional investors have regarding cryptos - security.

"Coinbase Prime will accelerate adoption of cryptocurrency worldwide by helping institutions everywhere participate in this emerging asset class", the company says.

Some of the Coinbase Custody launch partners
Some of the Coinbase Custody launch partners

Initial clients include Boost VC, Meta Stable, Multicoin Capital, Polychain Capital, Autonomous Partners, Scalar Capital, 1confirmation and Walden Bridge Capital.

In a press release announcing the news, the company also confirmed the addition of a new Chicago office tasked with enhancing the development of the Coinbase Markets product offering.

Coinbase Prime is a new set of services which Coinbase says will "fill a missing piece of critical infrastructure needed for institutions" that wish to add cryptocurrencies to the roster.

Coinbase Prime is a platform with all the bells and whistles institutional investors are used to, and by the end of the year it should have advanced tools such as margin trading, algorithmic orders and multi-user permissions.

By guiding clients through the onboarding process and advising on execution strategies, the Coinbase Institutional Coverage Group will offer personalized white-glove service and help institutional investors navigate the increasingly complex world of crypto asset investing. Note that individual investors should use Coinbase's trading platform GDAX; Prime is for institutions and professionals only.

Another new product will be Coinbase Prime, which was created to offer the tools that the institutional investors need the most when trading and fill the gap that sometimes prevents these institutions from investing in crypto.




Other News

Trending Now

Design Patent Battle Revives Between Samsung and Apple
The current dispute is over roughly $400 million that Samsung was ordered to pay in damages over the design patent infringement. Apple has disputed that while it's a much of money, " Samsung violated millions and millions and millions of times".

Is 'The Voice' Fake? Former Judge Christina Aguilera Reflects On NBC Show
Though Aguilera doesn't explicitly defend his controversial points of view, she doesn't necessarily condemn them either. She added that " Twice " is one of "many moods" expressed on her upcoming eighth studio album, Liberation .

Presenting … a Vegan Take on the Royal Wedding Cake!
The report also mentions that Markle is back in the hospital after reportedly being treated for a heart attack a week ago. Meghan Markle's half-sister, Samantha , tweeted Monday that she is to blame for the photo debacle.

WWE Superstar Ronda Rousey May Be Pregnant 'Someday Soon'
As you'll see in the video, James' took the brunt of Ronda's offense at the close of the contest. As a result, it makes sense for Rousey to get a few more matches under her belt before then.

Pope Francis condemns Gaza killings, says Mideast needs justice, peace
This is our Christian vocation, Pope Francis continued, to walk as sons and daughters of the light, persevering in faith. The Pope held the first meeting with the Bishops on Tuesday afternoon in the auletta of the Paul VI Hall.

Panchayat polls: Democracy murdered in Bengal, says Somnath Chatterjee
The voting took place for 621 zilla parishads, over six thousand panchayat samitis, and almost 31 thousand gram panchayats. In other incidents of violence, 15 people were injured in a clash outside a polling booth in Nandigram.

Netflix to allocate 85% of new spending on original TV shows
If you like Netflix original programming, you'll have a lot of new shows and movies to watch between now and the end of the year. Such plans for content are partly why Netflix said it would raise another $1.5 billion in debt.