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Coinbase lures high-end investors, brokers with new cryptocurrency services

17 May 2018

Coinbase is announcing Coinbase Prime, a new platform designed specifically to provide a suite of tools and services that institutional investors rely on when trading cryptocurrency.

Citing the plans of over 100 hedge funds that have revealed plans to trade in cryptocurrencies in the past few months alone, Coinbase says that a shift in the market has prompted a growing need to cater for high-end clients and institutions interested in the emerging investment opportunities cryptocurrency offers.

The company will launch soon a new platform called Coinbase Custody. Coinbase has partnered with an SEC-regulated broker-dealer to create Coinbase Custody and offer a service that couples Coinbase cryptocurrency security excellence with third-party auditing and financial reporting validation that tends to operate a high standard of and SEC-regulated, custodial broker-dealer.

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.

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San Francisco-based Coinbase has announced the launch of a range of new products created to attract institutional organizations to the rapidly evolving cryptocurrency and blockchain ecosystem.

While some of the products will be available to everyone, most will focus on institutional clients. Coinbase Prime will promote implementation of cryptocurrency worldwide via giving institutions an opportunity to get closer to this asset class.

Along with the Coinbase Custody, Coinbase will be introducing "Coinbase Markets" by setting up a new engineering office in Chicago in order to continue developing its electronic marketplace.

As institutional capital begins to enter the blockchain ecosystem at high speed, Coinbase is positioned to function as a driving force behind adoption and the inevitable maturation of the crypto market.

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Coinbase's launch partners include 1confirmation, Autonomous Partners, Boost VC, MetaStable, Multicoin Capital, Polychain Capital, Scalar Capital and Walden Bridge Capital.

Now, with these new products, Coinbase believes they can attract big 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.

The exchange has launched Coinbase Prime, a new platform meant to provide a suite of tools and services to institutional investors who are specifically trading cryptocurrency.

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While Coinbase has said it doesn't consider tokens on its exchanges to be securities, the regulatory view on that is hazy.

Adam White, Vice President and General Manager of Coinbase Institutional, said that there is clear demand from institutional clients and financial services professionals for more specific solutions with regard to cryptocurrencies that address their sophisticated needs.

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Coinbase lures high-end investors, brokers with new cryptocurrency services