Coinbase is courting Wall Street after it announced plans to launch a range of new services aimed at institutional investors, who are finally beginning to embrace crypto.
The main new arrival is Coinbase Custody, a service first announced last year that provides specialist level services to allow institutions to hold bitcoin and other crypto with Coinbase.
Right now, there’s precious difference in customer care regardless of whether they hold $1,000 or $10 million, but Custody is an effort go beyond that and offer a higher standard of service in line with what institutions require.
Specifically, that includes the use of an SEC-qualified custodian, third-party auditing and financial reporting validation, all of which Coinbase is getting via a range of partners.
“We have leveraged our experience safely storing more than $20 billion of cryptocurrency to create Coinbase Custody, the most secure crypto storage solution available,” Coinbase general manager Adam White wrote in a blog post.
Coinbase also announced a new platform dedicated to institutional customers called Prime.