Coinbase Announces New Products and Chicago Office to Serve Institutions Better

Coinbase Announces New Products and Chicago Office to Serve Institutions Better

Coinbase Announces New Products and Chicago Office to Serve Institutions Better

"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. Members from the companies state that they are excited with the partnership and the possibility or regulating their crypto assets better.

The new products address numerous issues that big investors such as hedge funds face when trying to enter the cryptocurrency market, providing liquidity, safe storage of assets, quality support and advanced products such as OTC (over-the-counter) and margin trading. And based on what Coinbase has just announced, Coinbase Custody should be a pretty good answer to this problem.

Coinbase Markets will open an engineering office in Chicago and will introduce features such as low-latency performance, on-premise data colocation services, and settlement and clearing services.

It will act as a centralized pool of liquidity for all of Coinbase's products. "There is no better city than Chicago for companies that want to put down roots and grow their businesses".

As the financial industry continues its expansion into blockchain tech, popular exchange desk Coinbase is broadening its line of products to make it easier for institutional giants to enter the cryptocurrency space.

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The Chicago Coinbase office is reported to have six employees on staff, according to the Chicago Tribune.

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

The Coinbase Prime solution powered in collaboration with Coinbase Markets and Coinbase Custody exclusively developed and created to "provide essential tools and services that allow institutional investors trading in cryptocurrency", it will also offer both lending and margin financing products, OTC trading, algorithmic trading, market data, and research products to qualified clients, as per the sources. Coinbase Prime will promote implementation of cryptocurrency worldwide via giving institutions an opportunity to get closer to this asset class.

The new institutional product offerings will include Coinbase Custody and Coinbase Prime, as well as improvements to the company's Coinbase Markets product. It will provide a variety of tools and services created to meet the trading needs of the institutional investor. "This movement requires institutional grade products and services, something Coinbase has been developing with leading institutions and which we are proud to formally launch today".

This service is only available to institutional investors with a minimum of $10M in deposits. The group will be based out of Coinbase's New York office and touts an employee pool with impressive experience in the New York Stock Exchange, Morgan Stanley, plus regulatory bodies like the SEC and CFTC.

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