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Coinbase rolled out 4 new tools that are tailor-made for bigger financial institutions.
The tools include security offerings and a platform for institutional investors called Coinbase Prime.
Cryptocurrency - Trading - Platform - Coinbase - Investors
When cryptocurrency trading platform Coinbase launched in 2012, it was laser-focused on attracting individual investors to trade bitcoin. But years later, and after branching into other cryptocurrencies like ethereum, the San Francisco-based company is once again broadening its product offerings.
This time, its sights are set on Wall Street.
Tuesday - Company - Launch - Services - Institutions
On Tuesday, the company announced the launch of four services, all centered on attracting financial institutions to its platform. The new tools include options like Coinbase Custody, a custodian partnership similar to the custodian offerings typically provided by banks to secure customers' cash, and Coinbase Prime, a platform centered on research and market data geared toward institutional clients.
Coinbase's focus on attracting interest from bigger financial institutions started sometime last year, when general manager Adam White announced the company's intentions to build out a future custodian service.
Institutions - Number - Thing - Existence - Asset
"When we speak with [financial] institutions, they tell us that the number one thing preventing them from getting started is the existence of a digital asset custodian...
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