Coinbase Catalyzes Institutional Adoption With New Product Suite

17 May, 2018, 04:08 | Author: Brooke Harris
  • Coinbase's new trading platform for institutional investors Coinbase Prime

The Coinbase Prime solution powered in collaboration with Coinbase Markets and Coinbase Custody exclusively developed and created to "provide essential tools and services that allow institutional investors trading in cryptocurrency", it will also offer both lending and margin financing products, OTC trading, algorithmic trading, market data, and research products to qualified clients, as per the sources. The company said it's holding more than $20 billion in digital assets, and custodial services will be available to investors with at least $10 million in deposits.

Coinbase Inc. became the best-known cryptocurrency exchange in the U.S.by bringing Bitcoin to the masses. It will have its base in the NY office of Coinbase having a pool of expert employees with an enormous experience in the leading stock exchanges.

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.

Its new product, Coinbase Custody, partners Coinbase with an SEC-regulated broker-dealer for third-party auditing and financial reporting validation. Coinbase claims that more than 100 hedge funds announced plans to trade/invest in cryptocurrency in the last few months alone. Also, the arrival of bigger financial participants in the crypto market can possibly have instigated Coinbase to develop these initiatives.

The company will also be opening a new engineering office in Chicago to continue developing Coinbase Markets, which provides a centralized pool of liquidity for all its products.

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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. Chicago office will support Coinbase Markets team and help the company in delivering services for the cryptocurrency exchange. Over the course of the year we intend to offer lending and margin financing products to qualified clients, high touch and low touch execution services like over-the-counter (OTC) trading and algorithmic orders, and new market data and research products.

"Coinbase Prime will fill a missing piece of critical infrastructure needed for institutions", the exchange said. "We will also introduce platform improvements like multi-user permissions and whitelisted withdrawal addresses".

Coinbase understands that institutions need more than great products, they need great service too. It will provide a variety of tools and services created to meet the trading needs of the institutional investor.

But the market did not offer institutional grade products to meet the market demand. The products are Coinbase Custody, Coinbase Markets, The Coinbase Institutional Coverage Group, and Coinbase Prime.

The last announcement made by Coinbase is regarding its Institutional Coverage Group, headquartered in the NY office.

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