Coinbase Custody service open for large investors
The major US-based company dealing with cryptocurrencies – Coinbase – has reportedly started collecting funds from institutional investors in the USA and EU.
The company stated that the Coinbase Custody service is now officially available for business. The service is aimed at the institutional and other players which can invest over $10 million into cryptocurrencies. The first deposit on Coinbase Custody was reportedly made last week, and now the platform is open for the market.
"Coinbase Custody’s mission is to make digital currency investment accessible to every eligible financial institution and hedge fund in the world. We’ll achieve this by striving to become the most trusted and easiest-to-use crypto custody service available," the company blog post reads.
In addition, the company spokesperson stated that their current crypto assets amount to some$20 billion in total. Coinbase believes that the new service will help to attract extra $10 billion to the market.
"Coinbase Custody is a combination of Coinbase’s battle-tested cold storage for crypto assets, an institutional-grade broker-dealer and its reporting services, and a comprehensive client coverage program."
According to the available data, the US and European clients can invest via the platform now, though the company targets Asian expansion by end-2018.
03 July, 2018 13:00
← Japanese regulator can change rules for crypto platforms
Japan's Financial Services Agency is reportedly considering possible revision of the regulation for cryptocurrency exchange operations. According to the local media, the regulator may apply the Financial Instruments and Exchange Act (FIEA) to the cryptocurrencies. At the same time, this segment is regulated by the Payment Services Act.
03 July, 2018 11:04
US dollar somewhat lower with euro getting stable →
The US dollar has slightly decreased against the majors Tuesday morning. At the same time, euro generally stabilised amid the settlement of the migration issue in Germany. The US Dollar Index slipped to some 94.56, after a 0.45% upturn before. The European currency stayed near $1,1644 following the previous slackening.
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