Top cryptocurrency wallet and exchange service provider Coinbase is planning on launching suite of products to cater the needs of large institutional investors.
Coinbase is focusing on four trading tools – Coinbase Custody, Coinbase Markets, The Coinbase Institutional Coverage Group and Coinbase Prime – to support the large institutions for entering the cryptocurrency market.
Coinbase will provide custodian services similar to how banks secure customers cash. The company has already stored more than $20 billion in cryptocurrency to create Coinbase Custody. There are also claims that it will be fully regulated and compliant with the US Securities and Exchange Commission (SEC).
Coinbase Market is its new electronic marketplace with which it plans to provide a centralized pool of liquidity for all its other products and onboard users. Coinbase Prime is a platform centered on research and market data geared toward institutional clients. With Coinbase Institutional Coverage Group it focuses on giving “white glove” customer service to its institutional clients. It will include support for sales, sales trading, research, market operations, and client services support.
Coinbase currently has over 20 Million customers and has already traded over $150 Billion in digital assets on its crypto exchange platform. Given the recent interest of major blockchain and cryptocurrency from giants like NASDAQ, NYSE, and JP Morgan, it is no surprise that Coinbase is also looking to broaden its streams of revenue by catering to Wall Street.