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Coinbase invests more than $20 billion cryptocurrency for the launch of Coinbase Custody

Sthuthie Murthy

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Coinbase invests more than $20 billion cryptocurrency for the launch of Coinbase custody
Source: Max Pixel

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.

First, the platform announced the Coinbase Custody which will be launched in partnership with leading institutions. Coinbase stored more than $20 billion cryptocurrencies for its creation. Coinbase Custody partners include Autonomous Partners, Meta Stable, Multicoin Capital, Polychain Capital, Scalar Capital, Walden Bridge Capital, Boost VC and 1C. They will be offering services which will combine the platform’s cryptocurrency excellence along with third-party auditing and financial reporting validation. This will be operated on the high standard of an SEC-regulated custodial broker-dealer.

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. Coinbase Markets will be providing users with new features which will pave the path for a more price efficient process, increase the certainty of execution and building better markets.

In addition, the team has announced the launch of Coinbase Prime, a platform that focuses on providing a suite of tools and services which is used by all institutional investors trading in cryptocurrency. Coinbase Prime will be offering lending and margin financial products, Over the Counter [OTC] trading, and algorithmic orders along with the recent market data and research products.

The last announcement made by Coinbase is regarding its Institutional Coverage Group, headquartered in the New York office. The Institutional Coverage Group will be focusing on providing best services to its institutional clients by providing sales, trading, research, market operations, and support service to its clients.

Cryto_$tax said:



“With these new features in play maybe we can see more adoption from the general public instead of FUDsters lurking around every corner. Good job Coinbase, now keep pushing!”

Blocknomics, a Twitterati said:

“Thank you coinbase for helping large institutional investors invest!”

Adam, another Twitterati said:

“Right…cater to the big banks and trading shops and screw the individuals who got you here. You’re all the same. How about spending time and effort on support? Or on listing XRP and XLM? What a joke Coinbase has become!”





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Sthuthie Murthy is a full-time reporter at AMBCrypto. She has been researching and writing about the Blockchain technology for a year now. Her passion for blockchain has led her to be a part of AMBCrypto's news reporting team. She does not hold value in any cryptocurrencies currently.

Bitcoin

Bitcoin [BTC]: Fidelity has a ‘room full of ASIC miners’ at its Texas office, claims Justin Moon

Yash Rajan

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Bitcoin [BTC]: Fidelity has a 'room full of ASIC miners' at its Texas office, claims Justin Moon
Source: Pixabay

Bitcoin [BTC] had become the center of discussion in the crypto-verse after its meteoric rise recently. BTC is considered to be the digital gold with huge growth potential. As the interminable discussions continued for a long time, individuals associated with this discourse exhibited legitimate reasons both ‘for’ and ‘against’ the validity and acknowledgment of digital forms of money.

Enthusiasts around the globe believed that the big names of the market and hotshots in the corporate space were complacent about BTC. As Bitcoin is increasingly gaining recognition on a daily basis, Fidelity has emerged as the newest member to validate and diffuse BTC in its business operations.

Fidelity Investments, the multinational financial services corporation based in Boston, USA, offered services encircling investing, brokerage and retirement plans.

According to Bitcoin developer Justin Moon, Fidelity Investments has been interested in Bitcoin for a long time. He tweeted,

“Fidelity has a room full of Bitcoin Miners [ASICs] at their Texas office.”

This tweet, from a broader perspective, pointed at the interest of big wagons in the market in BTC mining. Apart from this, it also showed that they were actively participating in public blockchains.



This is not the first instance where Fidelity has openly accepted its interest in cryptocurrencies. Ari Paul, founder and chief investment officer of BlockTower Capital, had tweeted earlier this year,

A majority of Fidelity’s clients seems to believe that digital assets are the next big thing in the economy and the debate has been going on for a while. However, Fidelity’s statement rested the speculations of BTC being adopted by big league members. In other adoption news, three days ago, AT&T announced that it would start accepting payments in Bitcoin for its services.





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