Published: Tue, May 15, 2018
Money | By Ralph Mccoy

Coinbase Introduces Coinbase Suite of Institutional Products

Coinbase Introduces Coinbase Suite of Institutional Products

Commenting their new offerings, Adam White, Vice President and General Manager of Coinbase Institutional explained: "There is clear demand from institutional clients and financial services professionals for more specific solutions with regard to cryptocurrencies that address their sophisticated needs". Chicago office will support Coinbase Markets team and help the company in delivering services for the cryptocurrency exchange.

Coinbase's launch partners include 1confirmation, Autonomous Partners, Boost VC, MetaStable, Multicoin Capital, Polychain Capital, Scalar Capital and Walden Bridge Capital.

The second new product is the company's new electronic marketplace called Coinbase Markets that will offer a centralized pool of liquidity for all of Coinbase products. Over the course of the year, Coinbase Markets will introduce new features like low latency performance, on-premise data center colocation services, institutional connectivity and access, and settlement and clearing services. "These additions will allow for a more efficient price discovery process to occur, creating tighter markets, deeper liquidity, and increased certainty of execution".

As new hedge funds form to invest in cryptocurrency and large financial institutions jump into the fray, Coinbase (COINB) is introducing a suite of services targeting institutional investors, the company announced on its blog. The group, which will be headquartered in Coinbase's New York office "brings years of diverse and relevant institutional experience from firms such as the New York Stock Exchange, Morgan Stanley, and the SEC and CFTC".

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"Coinbase Prime will fill a missing piece of critical infrastructure needed for institutions", the exchange said.

According to the Coinbase CEO, Brian Armstrong, an increasing number institutional investors are becoming interested in trading (or investing in) - he estimates that around $10 billion in institutional money is sitting on the sidelines, waiting to be unlocked - and that they are saying that the biggest barrier to entry for them is the lack of a digital asset custodian service that they can trust. Having this idea in mind, the company has created the Coinbase Institutional Coverage group that will provide all kinds of support including sales trading, research, market operations services.

This is a new group, based in Coinbase's New York City office, that will be focused on providing a personalized "white glove" service to institutional investors. And based on what Coinbase has just announced, Coinbase Custody should be a pretty good answer to this problem. Do you think these products will help facilitate institutional investment into the cryptocurrency space?

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