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.
“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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