Coinbase, the best-known cryptocurrency trading platform in the US, has now targeted Wall Street.
The San Francisco-based company is developing various tools to attract institutional investors to its platform.
These various tools include custody services, where investors can store large amounts of digital currency, as well as advanced trading capabilities such as risk management and margin trading that allow them to borrow money from their customers.
Some products will be available to everyone, while most will only be available to all. will focus on corporate customers.
The service that will focus on corporate customers, called Coinbase Prime; It will offer lending, margin finance and over-the-counter trading.
The company said it holds more than $20 billion in digital assets and will serve investors with at least $10 million in deposits.
It was in an apartment only 3 years ago
Only three years ago, Coinbase operated in a one-bedroom apartment and grew into a billion-dollar company with the massive surge in interest in cryptocurrencies last year.. Coinbase is now targeting much bigger with institutional investors.
In addition, Coinbase now has more than $200 million in funding from backers like Andreessen Horowitz and the New York Stock Exchange.
Coinbase Institutional’s vice president, Adam White, said that Coinbase needs to prove the service is reliable if it hopes to win over mutual funds and Wall Street’s elite.
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