Coinbase Launches ‘Custody,’ A Digital Assets Custodial Solution for Institutional Investors | News ICORating
  1. Home
  2. News
  3. Release

Coinbase Launches ‘Custody,’ A Digital Assets Custodial Solution for Institutional Investors

Coinbase Launches ‘Custody,’ A Digital Assets Custodial Solution for Institutional Investors

Major American cryptocurrency exchange and wallet service Coinbase has launched ‘Custody,’ a digital assets custodial solution for institutional crypto investors.

According to a July 2 blog post, Coinbase Custody “ is a combination of Coinbase’s battle-tested cold storage for crypto assets, an institutional-grade broker-dealer and its reporting services, and a comprehensive client coverage program.”

Custody received its first deposit in the last week of June and opened for business on July 2. With Custody, Coinbase aims “to make digital currency investment accessible to every eligible financial institution and hedge fund in the world.”

The new digital assets custodial offering will notably be secured through Coinbase partner Electronic Transaction Clearing (ETC). ETC is an independent broker-dealer registered with the Securities and Exchange Commission (SEC) and a Financial Industry Regulatory Authority (FINRA) member.

Following Coinbase’s efforts to offer products and services in full compliance with regulators, such as SEC-regulated crypto securities for institutional clients, Custody users can also expect to have to comply with industry regulations.

According to the post, Coinbase has subjected Custody to “rigorous” testing with the aim of offering a maximally secure product. Custody features a range of security measures, including “on-chain segregation of crypto assets,” “split, offline private keys” with stringent geographic quorum requirements, and “robust cold storage auditing and reporting.”

Coinbase Custody currently supports Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) for institutional clients from North America and Europe. However, Coinbase plans to add support for more assets and open its service to Asian institutions “by the end of the year.”

The company also revealed plans to add “secure, segregated hot wallets” and scheduled withdrawals for “maximum flexibility.”

Latest news

eToro New Services for the US Customers

Global trading platform eToro now a...
13 Mar 2019

Bittrex Announces Its First Initial Exchange Offering (IEO)

The trend is on. Bittrex, one of th...
13 Mar 2019

ICORating Weekly Report: 10th Week of 2019

This report includes data on severa...
13 Mar 2019

ICORating Weekly Report: 9th Week of 2019

This report includes data on severa...
13 Mar 2019

Top Tokens by Daily Trade Volume: 8th Week

Top tokens by daily trade volume in...
28 Feb 2019