Coinbase announced the launch of services in custodial storage for institutional investors

Coinbase announced the launch of services in custodial storage for institutional investors

The largest cryptocurrency exchange and wallet in the US, Coinbase announced the beginning of providing custodial services for institutional investors.

At the end of 2017 Coinbase has announced its plans to the custodian and direction on the project “Coinbase Custody”. Thus, the company sought to solve the “number one problem” for institutional investors.

Coinbase already is the Keeper of the cryptocurrencies of its customers amounting to more than $ 20 billion, but the new service will be implemented through an independent broker-dealer Electronic Transaction Clearing (ETC), which is a member of FINRA, and all operations which comply with the standards of SEC.

Thus, institutional investors have access to the custodian services for the storage of cryptocurrency in accordance with all standards of the Commission on securities and exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA).

This means that institutional investors from the US and Europe can now store your cryptocurrency assets in Custody Coinbase, which currently supports Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). Coinbase says it plans to add new assets and also make your services available to Asian investors before the end of the year.

The company claims that Coinbase Custody applies a range of security measures, including the “network separation cryptocurrency assets,” “Autonomous, multi-segmented and geographically distributed transaction protection”.

It is reported that, along with cold storage wallets that have yet to be approved by regulators, the company plans to use “safe, separated hot wallets” to provide greater freedom of action of investors.

Coinbase Custody is the first project of such level-oriented cryptocurrency investors.

The company actually tries to become a broker-dealer is in full compliance with SEC standards, thanks to the recent acquisition of firms in financial services, as well as the desire to obtain a Federal banking licence

Coinbase has also recently announced its plans to exit the Japanese market of cryptocurrencies.

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