The latest cryptocurrency custodian that will operate in close association with the SEC to establish the most secure crypto storage solution available.
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.
According to a report in the Wall Street Journal, Adam White, the General Manager at Coinbase, told them in an interview that Coinbase would ensure that HFT firms would not receive any unfair advantages: "We are going to be thoughtful and deliberate in the way we do that, to make sure we don't disadvantage any market participant over another".More news: Rui Faria could be offered a huge job after leaving Manchester United
First product pitched by Coinbase is their custodial service they launched previous year which has third party auditing and financial reporting validation. There is a problem, there are very few regulated platforms, and they do not facilitate services for enterprises, hedge funds, or other important institutions. Coinbase plans to roll out all of these services "over the coming months". 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".
Coinbase Markets already provides "a centralized pool of liquidity for all Coinbase products".
"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", the company says.
The Chicago Coinbase office is reported to have six employees on staff, according to the Chicago Tribune. But Coinbase Custody solves that issue and allows institutions to securely invest in the crypto market.More news: Emissions mystery: Scientists say more of banned chemical going into atmosphere
These institutions can bring "new capital, greater awareness and additional infrastructure to the space", it said. It will provide a variety of tools and services created to meet the trading needs of the institutional investor.
Along with the other fresh offerings, Coinbase announced it will be opening a new office in Chicago to grow its Markets platform and accommodate the liquidity needs of institutional clients.
This is a major upgrade to Coinbase's product lineup, which has so far been mostly oriented toward individual investors.
High-end institutions, such as banks, expect high-end customer service. The group will be based out of Coinbase's New York office and touts an employee pool with impressive experience in the New York Stock Exchange, Morgan Stanley, plus regulatory bodies like the SEC and CFTC.More news: Spanish GP highlights include a spectacular crash, not much overtaking