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

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.

Earlier today, Coinbase, one of the leading cryptocurrency exchange platform headquartered in San Francisco, reported multiple announcements on all the projects they have come up with for the betterment of the Cryptoverse. It will have its base in the NY office of Coinbase having a pool of expert employees with an huge experience in the leading stock exchanges.

According to a note from Adam White, general manager at Coinbase, "this product will fill a missing piece of critical infrastructure needed for institutions".

The rapid influx of world's large financial participants and their capital spurred Coinbase to develop the products.

Its new product, Coinbase Custody, partners Coinbase with an SEC-regulated broker-dealer for third-party auditing and financial reporting validation. Coinbase Custody aims to make digital currency investment accessible to every financial institution and hedge fund in the world. Coinbase plans to roll out all of these services "over the coming months".

"We're very familiar with the need for trusted, institutional custody in the crypto space and are excited to partner with Coinbase to help bring this to market", said Kyle Samini, Co-Founder and Managing Partner, Multicoin Capital.

"As institutions continue to enter the cryptocurrency market, we are committed to building the products and services that uniquely meet their needs".

Coinbase Markets will be Coinbase's electronic marketplace.

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. Over the course of the year, Coinbase will be introducing new features such as "low latency performance, on-premise datacenter colocation services, institutional connectivity and access, and settlement and clearing services". To learn more or sign up as an institution, please visit Coinbase Prime.

This service is only available to institutional investors with a minimum of $10M in deposits.

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.

According to the Coinbase CEO, Brian Armstrong, an increasing number institutional investors are becoming interested in trading (or investing in) - he estimates that around $10 billion in institutional money is sitting on the sidelines, waiting to be unlocked - and that they are saying that the biggest barrier to entry for them is the lack of a digital asset custodian service that they can trust.

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