Coinbase Announces New Products and Chicago Office to Serve Institutions Better

Four New Coinbase Products

Four New Coinbase Products

San-Francisco cryptocurrency exchange Coinbase has launched a suite of institutional products meant to target larger players in the investment market such as hedge funds.

As recently as May 12, CCN reported a growing brain drain of traders and experts leaving finance firms to join cryptocurrency exchanges and startups, which Coinbase is capitalizing on. Back in November, Brian Armstrong, CEO and Co-Founder at Coinbase unveiled that they were working in this new platform.

Its new product, Coinbase Custody, partners Coinbase with an SEC-regulated broker-dealer for third-party auditing and financial reporting validation.

Komainu is a new venture established to help overcome barriers for institutional investment in crypto-assets with a custody solution and offering new services, standards and best practices. This particular feature has been requested for a long time by institutional investors and it could be one reason why the six-year-old virtual currency platform has taken the decision. Coinbase has already gained experience in storing over $20 billion of cryptocurrency on behalf of customers but earlier it hasn't had a separate product for storing holdings.

"There is clear demand from institutional clients and financial services professionals for more specific solutions with regard to cryptocurrencies that address their sophisticated needs", said Adam White, Vice President and General Manager of Coinbase Institutional.

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. Coinbase Prime will promote implementation of cryptocurrency worldwide via giving institutions an opportunity to get closer to this asset class.


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

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. These additions will allow for a more efficient price discovery process to occur, creating tighter markets, deeper liquidity, and increased certainty of execution'.

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

The company states that, in the near future, it intends to offer other services like lending and margin financing on the platform and even services like OTC trading and algorithmic orders.

But Coinbase wants to satisfy institutions needs not only in high quality products but also in high quality services. 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.

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