Coinbase just announced the launch of its varied products and services viz. Coinbase Prime, Coinbase Custody and Coinbase markets for institutional investors. This move provides these investors with all the tools to have them enter the crypto market and drive it to great heights.
Coinbase launches Coinbase prime, Coinbase custody & Coinbase markets
In its attempt to become the Google of the crypto market, Coinbase has yet again come up with a new announcement. One of the biggest crypto exchanges, Coinbase has unveiled a series of products and services aiming towards the institutional investors of the market.
In its latest announcement, San-Francisco-based exchange launched Coinbase Prime which is
“a new platform designed specifically to provide a suite of tools and services that institutional investors rely on when trading cryptocurrency.”
The product aims to fill the missing piece of infrastructure needed by these institutions by providing
“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.”
Coinbase is surely all set to dominate crypto space by announcing
“we are excited to help institutions everywhere participate in this emerging asset class”.
The Coinbase Markets will further provide a centralized pool of liquidity for all of Coinbase products. Over the year, it will “introduce new features like low latency performance, on-premise data center colocation services, institutional connectivity and access, and settlement and clearing services.”
Another product is Coinbase Custody which is a secured crypto storage solution in partnership with the SEC-regulated broker-dealer.
The point worth noting here is that the exchange will be providing a
“third-party auditing and financial reporting validations that operate at the high standard of an SEC-regulated, custodial broker-dealer.”
Coinbase serves crypto market on a silver platter to institutional investors
The primary concern of financial institutions that is pulling them back from entering the crypto market is the lack of regulations and no substantive stance from SEC’s side.
Now, Coinbase is rolling out the red carpet for the financial institutions by introducing a third party auditing.
Moreover, financial institutions don’t have the right tools to engage in the crypto market or they are already deployed in the traditional financial space. By providing all the tools and services to these institutional investors, they can easily venture into the crypto space.
If we take a look at the Google Trends, since the announcement of the launch of Coinbase’s series of products and services, as the graph reflects, the United States is the dominant (actually the sole) location searching for Coinbase Custody and Coinbase Prime.
Though there is no response from the Wall Street yet, this move by Coinbase to attract the institutional investors will bring in a horde of them. Then, it will be only a matter of time when the cryptocurrency market will rose significantly and the market cap will hit the trillion dollar mark.
Do you think this move by Coinbase will result in trillion dollar market cap? Share your thoughts with us!
Being an active participant in the Blockchain world, I always look forward to engage with opportunities where I could share my love towards digital transformation.