Coinbase Offers New Institutional Investor Products
San-Francisco cryptocurrency exchange Coinbase has launched a suite of institutional products intended to target larger players in the investment market such as hedge funds. The launch of the new services comes amid a growing number of hedge funds entering the crypto space.
The exchange has launched Coinbase Prime, a new platform intended to provide a suite of tools and services to institutional investors who are specifically trading cryptocurrency.
According to a note from Adam White, general manager at Coinbase, “this product will fill a missing piece of critical infrastructure needed for institutions. 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. We will also introduce platform improvements like multi-user permissions and whitelisted withdrawal addresses.”
Among other services, Coinbase has teamed up with an SEC-regulated broker-dealer to launch Coinbase Custody, which intends to offer users ‘the most secure crypto storage solution available,” according to White.
Initial clients include Boost VC, Meta Stable, Multicoin Capital, Polychain Capital, Autonomous Partners, Scalar Capital, 1confirmation and Walden Bridge Capital.
Other offerings include the Coinbase International coverage group, which will be headquartered in New York and is intended focus exclusively on the needs of institutional clients by providing sales, sales trading, research, market operations, and client services support.
Electronic marketplace Coinbase Markets will also be further developed with a new engineering office in Chicago.
White adds: “As institutions continue to enter the cryptocurrency market, we are committed to building the products and services that uniquely meet their needs. We believe our suite of products and dedicated Institutional Coverage group will accelerate the rate of institutional adoption and create a more mature and diverse market.”