San Francisco-based firm customizes crypto-products to lure institutional clients

San Francisco-based firm customizes crypto-products to lure institutional clients

San Francisco-based firm customizes crypto-products to lure institutional clients

"Polychain is excited to partner with them to bring both security and regulatory clarity to our investors", said Olaf Carlson-Wee, Founder and CEO Polychain Capital.

Given the recent interest in blockchain and cryptocurrency from giants like NASDAQ, The New York Stock Exchange, Goldman Sachs, and JP Morgan, it is hardly surprising that Coinbase is seeking to diversify its streams of revenue by catering to Wall Street. New product offerings announced today also include Coinbase Prime, a suite of tools and services specifically designed for institutions, and enhancements to Coinbase Markets that will be driven by an engineering team out of the newly opened Chicago office.

San Francisco-based firm customizes crypto-products to lure institutional clients
San Francisco-based firm customizes crypto-products to lure institutional clients

Cryptocurrency exchange Coinbase has launched three new products for institutional investors, as reported by Vice President and General Manager Adam White.

The Coinbase Custody product is looking to solve the issue of security. Coinbase Markets will provide a centralized pool of liquidity for all Coinbase products as well as deliver a range of new features including latency performance, institutional connectivity and access, on-premise datacenter colocation services, as well as settlement and clearing services.

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This may provide institutions with the help necessary to take cryptocurrency investment seriously, and given the potential profit the market offers, it is unsurprising that Coinbase wants a slice of the action. Essentially, what Coinbase will be doing via this office is upgrading its systems so that it can become one of the first crypto exchanges that supports high frequency trading (HFT). "As a global leader in financial technology, Chicago welcomes innovative companies investing in our city and creating jobs for Chicago residents", said Mayor Rahm Emanuel. All the new products were developed with an aim to satisfy investors' needs in crypto trading and investing.

The exchange has launched Coinbase Prime, a new platform meant to provide a suite of tools and services to institutional investors who are specifically trading cryptocurrency. "We will also introduce platform improvements like multi-user permissions and whitelisted withdrawal addresses". The exchange expects Coinbase Prime to accelerate adoption of cryptocurrency worldwide by helping institutions everywhere participate in this emerging asset class. To learn more or sign up as an institution, please visit Coinbase Prime. The custodial services will enable users to store large amounts of digital currencies whereas the enhanced trading capabilities including margin trading and risk management will allow the customers to use borrowed money.

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This is a major upgrade to Coinbase's product lineup, which has so far been mostly oriented toward individual investors.

Another new product will be Coinbase Prime, which was created to offer the tools that the institutional investors need the most when trading and fill the gap that sometimes prevents these institutions from investing in crypto.

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