Over the course of the year Coinbase intends to offer lending and margin financing products to qualified clients, high touch and low touch execution services like over-the-counter (OTC) trading and algorithmic orders and new market data and research products.
The cryptocurrency market is expanding every day with new developments popping up from time to time.
Electronic marketplace Coinbase Markets will also be further developed with a new engineering office in Chicago.
Our Coinbase Custody launch partners are all leading institutions in the crypto industry, including 1confirmation, Autonomous Partners, Boost VC, MetaStable, Multicoin Capital, Polychain Capital, Scalar Capital and Walden Bridge Capital. "There is clear demand from institutional clients and financial services professionals for more specific solutions with regard to cryptocurrencies that address their sophisticated needs", Adam White, Vice President and General Manager of Coinbase Institutional, said in a statement.
The rapid influx of world's large financial participants and their capital spurred Coinbase to develop the products.
Coinbase Custody is a cryptocurrency custodian that will be introduced in collaboration with an SEC-regulated broker-dealer.
Recently, a huge number of hedge funds revealed their plans to go in for crypto trading and investing which is an evidence of growing attention to the crypto sphere from the side of institutions and financial services companies. And based on what Coinbase has just announced, Coinbase Custody should be a pretty good answer to this problem.
The famous and recognised cryptocurrency exchange and platform, Coinbase, announced on Tuesday that it has formally launched Coinbase Custody, the product designed specially for institutional investors.
This may provide institutions with the help necessary to take cryptocurrency investment seriously, and given the potential profit the market offers, it is unsurprising that Coinbase wants a slice of the action. He also said that the Chicago is an ideal location to position for the newest Coinbase office and he believes that their investments will continue to place the city as the center for technological innovation. Coinbase Prime will promote implementation of cryptocurrency worldwide via giving institutions an opportunity to get closer to this asset class.
Finally, Coinbase has created a new Institutional Coverage Group that focuses exclusively on supporting institutional clients (as opposed to retail clients).
Other offerings include the Coinbase International coverage group, which will be headquartered in NY and is intended focus exclusively on the needs of institutional clients by providing sales, sales trading, research, market operations, and client services support. It will provide a variety of tools and services created to meet the trading needs of the institutional investor. The custodial services will enable users to store large amounts of digital currencies whereas the enhanced trading capabilities including margin trading and risk management will allow the customers to use borrowed money.